CBI spokesman: Iran has signed LOCs worth $55.3b

Mohammadali Karimi told IRNA on Friday that the reduction in Iran's credit risk from seven in the beginning of eleventh government to five has paved the way for foreign investment in the country.

"The expansion of brokerage relationships with leading European banks such as those in the Netherlands, Italy, Belgium and Austria, as well as in Asian countries such as China and South Korea and the talks with banks of Oman and Qatar were aimed at developing banking and commercial relations," he said.

Many of the problems in transferring money have been solved in recent years, said Karimi, hoping that reforms in the banking system and the conformity with international standards would further improve the situation.

The government has submitted drafts on combating money laundering to the Parliament, he said, adding that approval of the bill can change the global perspective on Iranian banks and will draw a clearer perspective on the banking system.

He put the country's economic growth (excluding oil) during the six months to September 2017 at 4.1 percent and said the banking system has helped strengthen housing finance as well as granting marriage loans.

Source:Irandailynews