IslamicFinance.de

Many Iranian banks have created a roadmap to open up to the world. Bank Pasargad, the second-largest finance company of Iran with billions of dollars of blocked assets in many countries worldwide, is one of them. According to Mostafa Beheshtirooy, a member of the executive board at Bank Pasargad, the bank has started conducting research into Turkey, Germany, Spain and China, adding that business could be done via a local partner or a take-over of a bank. Beheshtirooy said that, despite the negative impacts of the rising dollar and falling oil prices, the bank's total assets will reach $70 billion; in stark contrast to the current $19 billion it holds.