• -Parsian Bank’s Director of International Affairs: “We own the largest international brokerage network.”

      Director of International Affairs said: Currently, Parsian Bank offers the largest international brokerage network among the Iranian banks. It covers the opening of LoCs and remittances in vast majority of European countries. Even a few Iranian banks over the post-sanctions era are handling their international transactions through Parsian Bank.

      Pointing out how Parsian Bank has been pioneering in building brokerage relationships with various countries in Europe and Asia, Alaei, Director of International Affairs at Parsian Bank said: Prior to JCPA and since establishment of the bank, Swift has been seamlessly connected to Parsian and we have not faced any difficulties. Our measures and achievements in building extensive brokerage relationships are not limited to the post-sanctions era, but there were close ties with other banks, putting on top priority the possibility to interact with global banks over the post-sanctions era. While restoring the climate of brokerage ties during that period, Parsian Bank has been building new brokerage relationships in an effort to resolve the current obstacles inside the country. Moreover, it has been providing ideal solutions to Know Your Customer (KYC), Anti-Money Laundering (AML) and Compliance and Risk Management.
      400 SWIFT Messages and 230 Brokerage Relationships
      He continued, “Following the initial nuclear agreement, Parsian Bank sent a total of 400 SWIFT messages in order to revive the brokerage relationships with banks throughout the world. While explaining the recent developments in the sanctions, Parsian called for maximum interaction with global banks, setting the ground for activation of previous accounts and opening of new ones.”
      According to Parsian Bank’s Director of International Affairs, “We have been increasingly building SWIFT connections and brokerage ties with over 50 countries and 230 banks. This can facilitate further financial interactions as well as engagement of major banks in foreign investment and financing. Referring to the assessments made by relevant ministries and the Central Bank, Alaei announced that the Parsian-held accounts are constantly offered to authentic foreign banks to initiate the remittances essential for the transfer of overseas funds at oil and gas companies. In addition, Parsian Bank has been appreciated by chairmanship of the Central Bank as one of the key agent banks involved in regulation of domestic and foreign currencies.
      Parsian Bank holds a total of 53 active accounts worldwide
      He added,“Concerning LoCs, we are communicating with most foreign banks and hold 53 active accounts in different countries. This figure will progressively grow. For instance, Parsian owns accounts and brokerage ties with several European banks in Italy, Spain, Swiss, Germany, Netherlands, Austria, Belgium, Denmark, Finland, Sweden, Norway, UK and Turkey. We have connections with over two banks in some of those countries, geographically covering the entire Europe. In Asia, we have opened accounts and brokerage ties with Malaysia, Indonesia, Thailand, UAE, Oman, Bahrain, Qatar, China, India, Taiwan, South Korea, Tajikistan, Kazakhstan, Turkmenistan, Pakistan and Russia.”  He declared that Parsian has built brokerage ties with several Banks in Bulgaria, Croatia, Czech Republic, Hungary, Slovakia, Poland, Portugal and Romania. Upon enforcement of the JCPA, Parsian’s International Management held numerous meetings with major foreign banks and companies on international level so as to open a number of new accounts. Alaei said, “Parsian’s branch in Baghdad has been highly active, desirably covering the transactions between the traders of both countries. Parsian Bank has so far completed many licensed payments to American destinations, including those facilitating the Boeing and medical equipment contracts. Parsian also initiated the Iranian payments made to Airbus for the purchase of aircrafts.” Alaei added that the brokerage relationships have been established between Parsian Bank and the French Central Bank. In this regard, Parsian is the only Iranian bank opening an account with a French bank where LoCs and remittances can be carried out. 
      Selection of Parsian as one of the banks authorized for humanitarian activities in the global arena
      He added that pursuant to the JPOA, Parsian was elected as one of the banks authorized for humanitarian activities. Over the sanctions era, Parsian covered a substantial volume of humanitarian trade in goods and services and imports of food/medicine. By providing the sanction-stricken IRR Central Bank with its account held with the Indian UCO Bank and Taiwanese Mega Bank, Parsian has so far been undertaking the transfer of resources to Iranian banks. Furthermore, Parsian Bank has been employing the broker services to settle over 1.5 billion euros NIGC’s debt to Turkmenistan. Parsian is currently the only bank holding an account at the State Bank for Foreign Economic Affairs of Turkmenistan.
      Pointing out how effectively Parsian Bank has been contributing to the Iranian economy both prior to and during the sanctions era, the Director of International Affairs said, “Owing to the optimistic horizon in global interactions, Parsian was the only bank that formed a Department of Finance under its International Management, so as to actively participate in negotiations with foreign banks and acquire foreign resources in coordination with the Central Bank. Parsian has been involved in every contract proposed by foreign banks, such as the short-term financing between the South Korean Exim bank and Parsian Bank.”
      Parsian Bank in collaboration with Italian export insurance (Sace)
      Referring to the bank’s cooperation with international institutions, Alaei said, “An MOU was signed with Sace without any government LoC and merely backed by banking LoG issued by Parsian Deputy of International Affairs. This service managed to cover the LoCs and finance the projects offered by the bank.
      He added, “Parsian Bank has held several Compliance courses for its staff and other Iranian banks in an effort to promote the proficiency of the personnel within the Iranian banking system, which has always been embraced by other banks across the country. In conclusion, Alaei stressed that Parsian’s team at the International Affairs is not satisfied with the recent achievements and rather seeks to realize greater objectives in the international arena.