China’s Bank of Kunlun starts operation in Iran

June 7, 2019

TEHRAN- China’s Bank of Kunlun started its activity in Iran, Vice Chairman of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Pedram Soltani announced on Thursday.

In his twitter account, he wrote, “China’s Bank of Kunlun has announced that it will continue its banking transactions with the Islamic Republic of Iran by the end of the current year only using Chinese currency yuan and with full observation of the U.S. sanctions with regard to the goods, real and legal entities, transport companies and banks”, Mehr news agency reported.

China’s Bank of Kunlun is the only Chinese bank that cooperates with the Islamic Republic of Iran, he added.

In mid-April, the director of Bank of Kunlun had announced that the bank would continue cooperation with Iran.

The Chinese bank announced that it would continue cooperation with non-sanctioned Iranian banks for transactions and also payments related to non-sanctioned goods.

MA/MA

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