Austria opens one billion-euro credit line for Iran

During a meeting with Irans Minister of Economic Affairs and Finance, Austrian Finance Minister said the countrys biggest bank has opened one billion-euro credit line to help expanding bilateral cooperation.
(SHADA: TEHRAN) -- During a meeting with Hans Jörg Schelling, Ali Tayyebnia called for improving banking relations.

The finance ministers of Iran and Austria reached an agreement to sign an MoU on avoidance of double taxation and customs cooperation in the framework of the European Union laws.

Speaking at the meeting, Ali Tayyebnia pointed to his talks with the Austrian counterpart during a visit to Vienna last year, calling for accelerating the development of further economic cooperation.

Economy Minister went on to refer to the terrorist events of recent days and said that Iran is a victim of terrorism and called for strengthening international cooperation to combat and eradicate terrorism around the world.

In this respect, the fight against money laundering and financing terrorism has been developed as one of the main programs of the Islamic Republic, and it is being applied in all organizations and institutions, especially the banking system, in accordance with international standards, he continued.

We now have the necessary software to identify suspicious transactions, terrorist financing and money laundering, Tayyebnia stated.

Hans Jörg Schelling, for his part, said that the Austrian government is determined to develop relations and economic cooperation with Iran, and added: Uber Bank, as the biggest bank in the country, has opened a billion-euro credit line to finance investment projects in Iran.

In the end, he said that guarantees issued by the government for companies interested in investing in Iran have been significantly increased.