No Re­stric­tions For Ira­nian Banks Ac­tiv­i­ties in Brazil

Iran News - - FRONT PAGE -

TEHRAN – Newly ap­pointed Brazil­ian Am­bas­sador to Tehran Ro­drigo de Az­eredo San­tos says based on re­cent pol­icy of Brazil cen­tral bank, for­eign banks, in­clud­ing the Ira­nian ones, will be ex­empted from any re­stric­tion to carry on with their ac­tiv­i­ties.

Speak­ing to IRNA, San­tos said for­eign banks, in­clud­ing Ira­nian banks, can help com­mer­cial trans­ac­tions be­tween Iran and Brazil with­out any lim­i­ta­tion for es­tab­lish­ment of branches of banks and bank­ing ac­tiv­i­ties in Brazil.

San­tos said Ira­nian and Brazil­ian banks are to es­tab­lish bro­ker­age re­la­tions as a del­e­ga­tion from Iran Cen­tral Bank vis­ited Brazil that re­sulted in lift­ing of bank­ing re­stric­tions fac­ing Ira­nian banks and fa­cil­i­ta­tion of the bro­ker­age af­fairs of a Brazil­ian bank in con­nec­tion with co­op­er­a­tion with Iran.

Brazil am­bas­sador said it will take about 12 to 18 months to make nec­es­sary in­ves­ti­ga­tions for a for­eign bank to re­ceive li­cense and set up rep­re­sen­ta­tive of­fice.

‘We wel­come pres­ence of Ira­nian banks in Brazil and es­tab­lish­ment of branches in the coun­try be­cause such a mea­sure by govern­ments can lead to fur­ther ex­pan­sion of com­mer­cial re­la­tions be­tween the two coun­tries.’

Deputy Min­is­ter of Pe­tro­leum for In­ter­na­tional and Trade Af­fairs Amir-Hos­sein Za­maninia said last week that a del­e­ga­tion from Cen­tral Bank of Iran and Ira­nian pri­vate banks are busy pre­par­ing the grounds for bank­ing co­op­er­a­tion be­tween the two coun­tries over the past few weeks.

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