Iran & Turkey to establish a trade dedicated mutual bank!

Market News

– In an attempt to deepen their business relations, Iran & Turkey are to establish a dedicated bank easing the trade processes between the nations. Economy, Banking and Petrochemical, Iron ore and industrial part purchases are the areas of interest between two countries and in that regard and as the first step, an export guaranty fund shall be formed that assures any sale and purchases. The process of establishing such a bank will take at least 6 months and central banks of the two nations are responsible for keeping its shareholding structure intact.