Central Bank of Iran and Japanese Financial Services Agency (JFSA) signed a document on banking supervision cooperation in a bid to facilitate presence of prestigious Japanese banks in Iran.
"Bilateral commercial exchanges between Iran and Japan should be expanded given potential and capabilities of the two sides,” said Iranian Vice Governor for Banking supervision Affairs Farshad Heidari in the ceremony of signing the document.
He added boosting bilateral commercial ties between the two sides needs improving mutual banking cooperation.
Japan and Iran cooperated well on training banking supervision last year and the cooperation is expected to be continued and improved to help Iran’s banking standards reach the intended international level, Heidari said.
He further said Iran is ready to expand broker and banking relations with Japanese banks and open agencies and bank branches in Japan.
Japanese banks presence in Iran would not only pave the way for Japan’s access to a 80-million market, but also it would help Japan’s more active presence in Central Asia and Caucasus, the Iranian official said.
Deputy Commissioner for International Affairs Financial Services Agency, Masato Kanda, for his part expressed the hope that the signing the document would pave the way for signing a MoU on banking supervision.