Iran – Oman to develop banking relations

Iran – Oman to develop banking relations

During the recent visit paid by the CBI Governor to Oman, both sides reached agreements concerning the connection of the national card payment switches and expansion of banking relations.
 Dr. Valiollah Seif, the CBI governor led a banking delegation in a visit to Masqat to pursue the previous arrangements between the two central banks. Both sides made common decisions regarding facilitation of banking relations.
Valiollah Seif, the CBI Governor and Hamood bin Sangour bin Hashim Al Zadjali, the Executive President of the Central Bank of Oman agreed on the appointment of the members of a joint banking committee as well as the connection of the card payment switches of the two countries aiming at the access of cardholders to ATM and POS facilities in both countries.  Moreover, it was decided that the Melli and Saderat bank branches in Masqat to be reactivated and correspondence relations between the commercial banks of both countries develop so that Omani banks will engage in provision of services including opening LCs and letters of guarantee for their Iranian counterparts.
Holding training courses in Islamic Banking, FX treasury operations, and banking supervision was among other agreements made during this visit.
It was arranged that the technical officials of both central banks meet together and discuss the technical issues in one month. Their solutions and recommendations will be passed to the heads of the joint banking committee
Some CEOs from Iranian public and private banks accompanied the CBI governor in this trip.

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