TEHRAN – Iran and Turkey signed a memorandum of understanding (MOU) on January 25 for developing banking relations and resolving related issues between the two sides.

According to Tasnim, the MOU was signed by Hassan Yaqoubi, deputy for international affairs at Central Bank of Iran (CBI), and Mehmet Taskin, deputy executive director at Central Bank of Turkey, during an Iran-Turkey joint banking committee meeting in Tehran.
Based on the MOU, the two sides will take necessary measures to facilitate banking relations to help the economies reach the $30 billion turnover foreseen by Iran and Turkey.
Integration of the two countries' payment networks and using national currencies were among other subjects discussed in the meeting and also covered in the MOU.
The next round of Iran-Turkey joint banking committee meeting was also scheduled to be held in the upcoming Iranian month of Esfand (February 19- March 20) in Turkey to follow up the agreed subjects.
Earlier this month, Iranian Industry, Mining and Trade Minister Mohammadreza Ne’matzadeh visited Turkey at the top a trade delegation during which he met Turkish Economy Minister Nihat Zeybekçi and explored the ways to expand economic ties between the two countries.
Soon after Ne’matzadeh’s visit, a 20-member Turkish trade delegation dispatched by Antalya Chamber of Commerce and Industry (ACCI) traveled to Tehran to discuss business opportunities with the Iranian side.

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