Zarif: Branch of Iranian bank to be set up in India

IRNA – Foreign Minister Mohammad Javad Zarif hailed efforts to facilitate conducting economic exchanges between Iran and India, saying that a branch of Iranian bank will be established in India.

Commenting on the agreements made to facilitate economic activities between the two countries, he added that he held a good meeting with Indian prime minister who had a positive attitude towards Tehran-New Delhi relations.

Zarif further noted that Indian businessmen complained about major problem of money transactions and buying oil from Iran.

“There are different methods for solving the problem of money transactions such as barter and national currency,” he said, calling on the state-run and private sectors to use national currency in the international trades.

Bank Pasargad is poised to set up a branch in India, Zarif said, noting that it has proposed to India to open a branch in Chabahar.

Zarif arrived in Mumbai for a meeting with the Iranian and Indian tradesmen as well as talks with the local officials.

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