The Bank of Russia and the Central Bank of the Islamic Republic of Iran sign a memorandum of understanding

On 3 August 2017, the Bank of Russia hosted the fifth meeting of the Working Group on Cooperation in Finance and Banking of the Permanent Russian-Iranian Commission on Trade and Economic Cooperation, where the central banks of the two countries signed a memorandum of understanding.

The meeting discussed a wide range of issues, including development of banking infrastructure for bilateral cooperation, mutual opening of correspondence accounts by credit institutions of the two countries, promotion of trade settlements in the national currencies, integration of national payment card systems, etc.

The meeting participants were glad to acknowledge the progress achieved in interbank relations.

Chairing the meeting were Dmitry Skobelkin, Deputy Governor of the Bank of Russia, and Gholamali Kamyab, Vice Governor of the Central Bank of the Islamic Republic of Iran.  Representatives of the two countries’ central banks, major Russian and Iranian credit institutions, as well as the Russian Ministry of Economic Development and the Ministry of Foreign Affairs were in attendance.