TEHRAN (ecoideal)- The Hong Kong branch of Melli Bank London PLC, a subsidiary of Bank Melli Iran, officially restarted its operations in Hong Kong, BMI's chief executive announced.
“One of the measures that had to be undertaken to remove hurdles on the way of restarting the activities of the Hong Kong branch was selecting and introducing an independent credit institution to draft a thorough report on the branch’s preparedness,” Mohammad Reza Hosseinzadeh said.
As the official notes, the Hong Kong branch announced the authorization and its commencement of operations on its website on September 15.
“Bank Melli is pleased to announce that its Hong Kong branch is now in a position to offer a wide range of trade-related services to its customers,” read a statement by the BMI.
In a relevant development in late May, Iran's Bank Saman opened its first branch in Rome, Italy, after obtaining the necessary licenses from the central banks of Iran and Italy.
Saman bank opened its branch in the Italian capital to provide financing, investment, banking and legal consulting services to the Iranian businessmen in Italy.
Bank Saman's Public Relations said that according to a contract signed between Italy's Export Guarantee Funds (SACE) and Bank Saman an exclusive credit line has been set up for the Iranian bank.
During the fourth edition of Iran-Europe Banking and Business Forum in late April in Tehran, 2017, it was announced that some Iranian banks would shortly open agencies in Europe.
After the nuclear deal, also known as Joint Comprehensive Plan of Action (JCPOA), there have been a lot of openings in banking, such as expansion of banking relations with other countries, removing limitations on Iranian banks in other countries and temporary suspension of Iran from among the countries not cooperating with the Financial Action Task Force (FATF).
Source: Farsnews