IslamicFinance.de

Freed of international sanctions, Iran has asked India to reactivate its accounts with Indian banks and allow Iranian banks to open offices here. Keen to quickly normalise banking and commercial relations with the world, Tehran also wants UCO BankBSE -3.50 % to open a representative office in Iran. Tehran has already opened an account with IDBI Bank. Central Bank of Iran's vice governor Gholamali Kamyab has conveyed to Indian authorities that Bank Pasargad and Parsian Bank were keen to open representative offices in India while Saman Bank was interested in opening a subsidiary, they said. State Bank of India (SBI) has accounts of 11 Iranian banks including Central Bank of Iran (CBI).