Russian newspaper Izvestiya reports that “ten major Russian credit organizations are already planning to deal with the new Iranian market” and that “Russia's Banks have the opportunity to be first international actor to enter Iran's Financial Market”.
Izvestiya writes that “a meeting was held in Iran in the framework of Russian-Iranian collaboration at which Russia was represented by Dmitriy Skobelkin, Deputy of the Central Bank, and Iran by Gholamali Kamyab, Deputy of the Islamic Republic Central Bank”.
"Russia's Bank Will Try to Be the First to Enter Iran's Financial Market"
According to Izvestiya Russia and Iran “reached agreement on cooperation with the Iranian regulator in a number of areas, primarily making provision for interbank accounting in rubles and Iranian rials and developing correspondent relationships between Russian and Iranian credit organizations”.
A source close to the Russian Central Bank told to Izvestiya that during the meeting emerged as “anian market could offer good prospects for Russian banks not only in supporting contracts between Russian and Iranian companies but also because the population of the country, partially freed from sanctions, is young and with more financially power”.
"Iranian population is young and with financial power"
Russian banks have no offshoots in Iran. The only bank with Iranian roots operating in Russia is the Mir Business Bank. Western banks have no hurry to open branches in Iran, preferring to wait for the situation to become clearer. But the Russian Federation banking sector has no history or experience of transnational banks.
Tamara Kasyanova, who runs the 2K Company, says that "the absence of Western banks, which can access to cheaper credit resources in European markets, makes Iran highly interesting territory for Russian banks”.
Yuriy Amvrosiyev, Director of the international business and financial institutions department at Binbank, says that "VTB Bank, whose network abroad is partly based on old Soviet Foreign Bank Sovzagranbank outposts, does have that kind of experience".
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