News ID: 265961
Published: 1212 GMT February 21, 2020

Two Afghan banks to open branches in Chabahar port

Two Afghan banks to open branches in Chabahar port

Iran has approved two Afghan banks to open branches in its southeastern strategic port of Chabahar, announced Secretary General of Iran-Afghanistan Joint Chamber of Commerce Mozafar Alikhani.

“Due to the strategic position of the Chabahar port and being exempted from the US sanctions, Iran has allowed two Afghan banks to establish branches in the port so that the two countries' businessmen could be able to use their facilities and services,” Alikhani said, ILNA reported.

There are strong economic ties between the two countries in terms of cultural, linguistic and historical commonalities, he said adding that many of Afghan traders are familiar with the patterns of trade and consumption in Iran.

“Iran currently supplies about 35 percent of Afghanistan’s total imports, apart from the technical-engineering, and educational services,” Alikhani added.

Mentioning the banking relations between the two countries, the official said: “The Central Bank of Afghanistan had earlier canceled Aryan Bank's license for activity in that country, but the bank has been re-licensed and is preparing to start operations in the near future.”

Afghanistan is a major export destination for Iranian products, and as Iran is seriously promoting information about the market of its neighbors among Iranian exporters.

According to Iran's Commercial Attaché to Afghanistan Javanmard Qassab, the two countries' trade exchanges currently stands at $3 billion.

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