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India’s UCO Bank Ltd. Archives - IRAN This Way https://iranthisway.com/tag/indias-uco-bank-ltd/ Become familiar with Iranian lifestyle! Wed, 02 Nov 2016 14:43:14 +0000 en-US hourly 1 https://wordpress.org/?v=6.0.9 https://iranthisway.com/wp-content/uploads/2016/04/cropped-ir-fave-iocn-32x32.png India’s UCO Bank Ltd. Archives - IRAN This Way https://iranthisway.com/tag/indias-uco-bank-ltd/ 32 32 Oman, India and South Korea banks open office in Iran https://iranthisway.com/2016/11/02/oman-india-south-korea-banks-open-office-iran/ https://iranthisway.com/2016/11/02/oman-india-south-korea-banks-open-office-iran/#respond Wed, 02 Nov 2016 14:43:14 +0000 http://iranthisway.com/?p=5099 Three foreign banks are opening up representative offices in Iran as the country seeks to boost investment after reaching an international sanctions deal last year, a senior official with the Central Bank of Iran (CBI) said. Oman’s Bank Muscat SAOG, Woori Bank of South Korea and India’s UCO Bank Ltd. are all in the process...

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Three foreign banks are opening up representative offices in Iran as the country seeks to boost investment after reaching an international sanctions deal last year, a senior official with the Central Bank of Iran (CBI) said.

Oman’s Bank Muscat SAOG, Woori Bank of South Korea and India’s UCO Bank Ltd. are all in the process of establishing a presence in Tehran, CBI Vice Governor Peyman Qorbani said Tuesday in an interview. He declined to give further details, Bloomberg wrote.

Major European banks have kept their distance from Iran, despite its nuclear deal with world powers, for fear of running foul of remaining US sanctions.

Central Bank of Iran Governor Valiollah Seif said progress with foreign banks has been “slow,” IRNA reported in September.

Austrian and Iranian bankers met in Vienna in September to discuss the resumption of trade financing, people with knowledge of the plans said at the time.

Austria’s top three banks, Erste Group Bank AG, UniCredit Bank Austria AG and Raiffeisen Bank International AG would be among the participants, according to the people, who asked not to be identified.

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