Bank Melli Iran establishes brokerage ties with Brazilian banks

Bank Melli Iran (BMI) maintains brokerage ties with Brazilian banks to promote brokerage relations and to support foreign trade, Deputy Governor of BMI for international affairs said, AVA Diplomatic reports.

Gholamreza Panahi voiced BMI’s readiness to provide necessary services for foreign trade activists.

Meanwhile, Brazil’s Ambassador to Tehran Rodrigo de Azeredo Santos had earlier said that limitations have been lifted in Iran-Brazil banking ties.

Foreign banks, namely Iran will be able to open branches and start banking activities in Brazil with no restrictions, he said.

Central Bank of Iran has put on the agenda developing banking and brokerage relations since the implementation of Iran nuclear deal known as Joint Comprehensive Plan of Action (JCPOA).

It is worth noting that Iranian banking network has created 704 brokerage ties with 249 banks.

South America and especially Brazil are among the best partners of Iran in mine and agriculture fields.