04 May 2016
TEHRAN--- Monday-2.5.2016 ---Banking Memorandum of Understanding was signed between the Central Bank of the I.R.Iran and KDB, the S. Korean Development Bank by Vice-Governor for Foreign Exchange Affairs of CBI, Gholam Ali Kamyab and Lee Dong Geol, CEO of KDB.
According to CBI PR dept, Kamyab considered this signed MoU as the prerequisite for expansion of banking co operations and said: "Iranian and S. Korean officials are determined to expand co operations and the trade volume between the two countries; therefore, we must pave the way for development of banking ties."
"During the sanctions, our trade ties with Eastern countries developed, we will continue this policy particularly with countries that supported us then", said Kamyab, CBI's Vice-Governor for Foreign Exchange Affairs, pointing to the boosts in ties with Eastern countries.
Chairman and CEO of KDB considered this MoU a positive step toward expansion of CBI-KDB relations and noted: "Our bank is ready and set to invest and contribute in industrial development in Iran. Today we are in contact with four Iranian banks …, we hope to help increase Iran's economic and industrial growth and development."
"Our aim is to establish and extend relations with Iran's Central Bank; signing this agreement, is the starting point to do so", said Lee Dong Geol.
The Korea Development Bank (KDB) was founded in 1954 with the purpose of supply and management of industrial capital to develop S. Korean industry and national economy. It is exclusively state-owned and its CEO is appointed directly by the S. Korean president. KDB plays a critical role in financing the development plans overseas and supplying industrial capital to domestic banks and corporations.