Iran’s 1st Bank in Syria to Start Work Soon
"The first Iranian bank will start working in Syria soon," Farzin said in a meeting with his Syrian counterpart Mohammed Issam Hazima.
"It is necessary to develop the monetary and banking cooperation between Iran and Syria proportionate to the increase of trade-economic relations and exchanges and to solve the issues related to the banking exchanges of the merchants of the two countries in the short term," he added.
"Increasing banking, commercial relations and joint investments is on the serious agenda of Tehran and Damascus," Farzin underlined.
Hazima, for his part, said that removal of dollar from economic-commercial exchanges and using national currencies in the context of monetary and banking cooperation between Syria and Iran will definitely change the trade balance of the two countries to the benefit of the national economy and people.
He referred to Iran's progress in the field of electronic banking, calling for the formation of a joint working group between the two countries to increase technological cooperation in the field of communication and banking.
In early 2023, a delegation from the Iranian-Syrian Friendship Organization concluded several agreements aimed at expanding Iran’s cooperation in promotion of the Syrian economy, particularly in the telecommunications, energy, and industrial sectors.
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