News ID: 121146
Published: 1025 GMT June 29, 2015

Expert: Lifting of banking sanctions a national success

Expert: Lifting of banking sanctions a national success

A capital market expert believes that lifting of sanctions, especially banking sanctions is a national success, expressing hope that with finalization of agreements, the country’s economy will experience a new era of prosperity at international level.

Mohammad Eskandari further remarked that with finalization of agreements, effective steps will be taken for the cancellation of certain major sanctions, especially banking sanctions and for the resolution of financial problems at international level, IRNA reported.

Pointing to the exchange of hard currency obtained from oil sale as the most important areas of the responsibilities of the Central Bank of Iran, Eskandari noted that with the lifting of sanctions grounds will be set for the bank at international level which can be a prelude to the release of Iran’s blocked currencies abroad.

Stressing that lifting of sanctions will no doubt increase capability of the Central Bank as compared to the past, he said in addition to reducing risk, rate of our currency will become lower and banking activities will be further facilitated.

The expert expressed the hope that after implementation of the comprehensive agreement, resolutions of the UN Security Council and economic and financial sanctions against Iran including financial, banking, insurance and investment sanctions, all the relevant services in different fields such as oil, gas, petrochemical and auto making will be lifted or suspended.

He said recent agreements can be promising for the opening of the atmosphere in the fields of international financial transactions and with cancellation of sanctions costs of banking transactions will reduce.

At present, the European Union has imposed sanctions on Mellat, Sina, Melli, Refah, Saderat, Post Bank, Toseh Saderat, Aryan, Kargoshaei, Ayandeh, Iran and Europe, Tejarat, Ansar PLB, PLS, and the Central Bank which has disturbed international transactions of the banks.

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