TEHRAN – Central Bank of Iran Governor Valiollah Seif says two Iranian banks will resume operation in London in the near future.

“Persia International Bank – which is Iran’s international bank in Britain – and Bank Melli Iran’s London branch, will soon resume operation in Britain,” Seif said on the sidelines of a meeting with British Foreign Secretary Philip Hammond in Tehran on Sunday.

Seif also said that the London Stock Exchange is interested in making investment in the Tehran Stock Exchange.

He added that the two countries had a positive relationship in the past, and they could build on those experiences.

The two sides discussed mechanisms to facilitate and expedite banking transactions, which can pave the way for giving a boost to the bilateral trade, he added.

----- Britain seeks to make trade with Iran easier

During the meeting, Hammond said that Britain seeks to make it easier for UK banks to finance trade and investment in Iran after a thaw in diplomatic relations.

“I think it would be very helpful and very positive if we could begin a dialogue about how we can create conditions which would allow British banks and British financial institutions to engage in the financing of trade and investment in Iran,” Hammond said.

“There is a huge appetite both on the part of our commercial and industrial businesses to engage with the opportunity of Iran opening up and there is huge appetite on the part of our financial institutions to support that activity but of course it has to be done in the proper way,” he said.

Trade turnover between Iran and Britain has increased by 25% following a thaw in diplomatic ties between Tehran and London.

Data released by Eurostat showed that the volume of trade between the two countries leaped 25% year-on-year to €152 million in 2014.

The figure stood at over €121 million back in 2013.

British Foreign Secretary Philip Hammond met with Central Bank of Iran Governor Valiollah Seif in Tehran on Sunday