National Bank of Belarus, Central Bank of Iran to sign memorandum of understanding

MINSK, 25 November (BelTA) – The National Bank of Belarus and the Central Bank of Iran intend to sign a memorandum of understanding in banking supervision. The issue was discussed at a meeting between Chairman of the Board of the National Bank of the Republic of Belarus (NBRB) Piotr Prokopovich and Governor of the Central Bank of Iran Mahmoud Bahmani on 25 November, BelTA has learnt.

Mahmoud Bahmani reminded that a number of agreements on cooperation and personnel training has been signed between the central banks of the two countries. In his words, these documents create a good legal framework for the comprehensive development of relations between the central banks of the two states.

The sides discussed the work of two Iranian banks registered in Belarus, banking supervision, money laundering and other issues.

The Iranian delegation is to meet with representatives of the Belarusian Government to discuss the bilateral cooperation in the banking sector and economy in general and in science.

The sides expressed confidence that the vibrant development of cooperation in the banking sector will boost trade, economic and investment contacts between the two states.

Promising avenues of investment cooperation include the participation of Iranian companies in capital development and infrastructure modernization in Belarus.

A reminder, in October 2009 the National Bank of Belarus registered Onerbank with 100% Iranian capital; the bank’s authorized fund is Br46.71 billion (over €11.5 million). “Trading Capital Bank” (TC Bank) was registered in Belarus in December 2008. The share of Iranian capital is 96%.