TEHRAN — Bank Melli Iran (BMI) will open a branch in Baghdad and other cities southern Iraq in a bid to boost banking ties with the neighboring state, Iranian Students News Agency (ISNA) reported in Ahvaz, the capital of southern Khuzestan Province, on Tuesday.

“BMI branches could help tradesmen receive the money of their products exported to Iraq,” said Mohammadreza Baghban, Iranian consul in southern city of Basra, who termed the decision as a significant improvement in commercial sector.

The branches will be established at a fully secure atmosphere in Iraq, said Baghban.

Pointing to growing Iran-Iraq ties, the consul added that some problems, due to the current developments in Iraq, are unavoidable.

Only some parts of Iraq are experiencing insecurity and other regions are not that risky and lots of Iranian have invested there, noted the official.