Joint Iran-Syria bank, insurance company launched: minister

Ehsan Khandouzi, the Iranian Minister of Economic Affairs and Finance made the remarks after meeting with Mohammad Samer al-Khalil, Syria’s Minister of Economy and Foreign Trade and Iyad Mohammad al-Khatib, Communications and Technology Minister in Tehran On Tuesday. 

Speaking to reporters after the meeting, Khandouzi said, “Considering the will of the two countries to increase trade and investment between Iran and Syria, we need that Iranian businessmen and investors can use insurance services in Syria in a special way and also enjoy greater ease in financial and banking transfers in that country.”

“Fortunately, these two things have happened now, and I would like to officially announce today that we are witnessing our efforts come to fruition both in the field of establishing a joint insurance company with the participation of a consortium of Iranian insurance companies, and of course with the partnership of the Syrian side, and also establishment of a joint bank with a shareholding ratio of 60% for the Iranian side and 40% for the Syrian side,” the Iranian economy minister said.

“Today these two new institutions are the two driving forces behind investment between Iran and Syria” he added.

He further noted, “We hope that with more cooperation between the two countries, especially in the fields of taxation and customs, as well as the investments that Iranian companies will make in Syria from now on, we will witness a new chapter on the economic relations between the two countries.”


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