Iranian, Belarus banks sign MoU on expansion of interactions

Managing Director of Bank Saderat Iran (BSI) Hamid Borhani and the governor of Belarus Central Bank Pietr Prokopovich on Wednesday signed a memorandum of understanding (MoU) on expansion of banking activities and raising the level of Iran-Belarus monetary and trade cooperation.

At the meeting, Borhani elaborated on the history and potentials of Bank Saderat Iran and its achievements in recent years.

Turning to Islamic banking system as an excellent and dynamic method in banking industry, he underlined that Islamic free-interest banking has a great impact on reducing the inflation rate and supporting the economic development and promotion of justice.

Borhani declared BSI's interest in broadening banking interactions and hoped that increasing exchanges between the two banks will lead to considerable bolstering of Iran-Belarus ties in all fields and will make the two nations closer to each other.

For his part, Prokopovich pointed to his country's various economic indices over the recent years and welcomed investment of Iranian banks, particularly Bank Saderat Iran, in Belarus.