Turkey and Iran set to form joint bank

Iran and Turkey were announced to be forming a joint bank as part of deals on the use of national currencies in transactions.

Establishing a joint bank has been suggested by the head of Iran-Turkey business council, Umit Kiler who hailed such a move as ‘a complementary action’ to ties between the two countries.

The chief noted “using national currencies have also been negotiated before. Implementing a joint financial framework eases the process of replacing national currencies with dollar or other foreign currencies.”

Kiler also assured that the newly set up joint bank is to receive assistance from Turkish investors, importers, and exporters.

He added “Iran and Turkey have centuries-long mutual trade, thus US unfair sections affect Turkey more than the other countries.”

Source » menafin

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