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BIM opens USD 4 billion worth of credit in past year

Saturday, Apr 21, 2018

Abbas Daneshvar, director of international affairs of the Bank of Industry and Mine (BIM), says the bank has opened about $4 billion worth of credit in the past Iranian calendar year in 1396 (ended on March 20).

(SHADA: TEHRAN) -- Daneshvar added that with the assistance and support of the Central Bank and the Organization for Investment, Economic and Technical Assistance of Iran (OIETAI), the bank was able to conclude 7 credit lines with foreign banks and financial institutions in 1396. The total value of the credit lines is $30 billion.

He further stated that after the implementation of JCPOA, the bank has tried to adapt itself to the new standards of international banking, saying: Combating money laundering and financing of terrorism, adaptation, risk management, corporate governance, compliance with KYC and Due Diligence are important issues for international banks to establish brokerage relationships with Iranian banks, and the need for compliance with the mentioned rules is of great importance for this bank.


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