TEHRAN – Governor of the Central Bank of Iran (CBI) Mohammadreza Farzin said the negotiations have begun for establishing a joint monetary channel among Islamic countries, Mehr News Agency reported.

Speaking to the press on the sidelines of the sixth meeting of the governors of the central banks of the Organization of Islamic Cooperation (OIC) member countries in Istanbul on Monday, Farzin said: “Using new methods to facilitate money transfer for tourists and businessmen, creating a common financial channel among Islamic countries, and using national currencies in commercial transactions were the main focus of negotiations in this summit.”

EF/MA