Jan 30, 2016, 12:33 PM
News Code: 81941203
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Grounds laid for Melli Bank plc reactivation

London, Jan 30, IRNA – Managing director of Melli Bank plc said here that grounds has been provided for resumption of activities of the Iranian bank in London, UK.

Talking to IRNA, Hassan Zaferani made the remarks while referring to removal of anti-Iran sanctions on January 16 and start of implementation of the July nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA).

Referring to resumption of SWIFT banking system in next few days, he said the Melli Bank plc will fully restart its international activities after establishment of agent banking relations with the European banks including those of in England.

SWIFT (Society for Worldwide Interbank Financial Telecommunication) banking system is the global provider of secure financial messaging services.

Iran has held talks with many influential banks in Europe on banking cooperation, but it has not reached full agreement with them due to complicated banking issues, Zaferani said.

Some of those banks are careful to resume relations due to the previous agreements they have had with the US, said Zaferani adding the Melli Bank is trying to solve the question through diplomatic ways.

Melli Bank plc is a UK incorporated bank, licensed and authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority and conforms to all UK accounting standards and disclosure requirements.

It is a wholly owned subsidiary of Bank Melli Iran, the largest Iranian bank which had a presence in London since 1967.

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