Bank Melli Iran Hopeful about inaugurating more branches in Azerbaijan

The Bank intends to offer better services and facilities to businessmen, Khavari said, noting BMI plays an important role in the development of goods exports and promotion of engineering services. Iranian banks account for about 40 percent of total assets of the world's top 100 Islamic banks, with BMI showing as the largest in the list, the results of a research showed.

BMI, with assets of $45.5 billion, was standing at the top of the 100-bank's list in terms of assets, while Saudi Arabia's Al Rajhi Bank came in second, the research said.

Meantime, Managing Director of Iran Export Guarantee Fund Seyed Kamal Seyed Ali reiterated that the Fund has predicted some measures to facilitate trade for Iranian businessmen in Azerbaijan by opening credit lines for a number of Azeri banks.

Referring to the legal reforms in the fields of goods export, guarantees and custom affairs, Seyed Ali said that these measures are aimed at developing the export of commodities and improving other services.

Iran has recently enhanced efforts to boost political, economic and cultural ties and cooperation with regional and neighboring countries, specially those in the Central Asia.

Iranian and Azerbaijani officials in January inked a short-term agreement to transfer gas from the Central Asian country to Iran. Iran is forced to import gas for its northern territories because the country's terrain obstructs supply routes from the energy-rich south.

Azerbaijan and Iran are linked currently via the 1474.5 kilometer-long Kazi-Magomed-Astara gas pipeline. In December Iranian Ambassador to Azerbaijan Mohammad Baqer Bahrami spoke of plans to construct a new pipeline to import Azeri gas supplies into Iran, saying that a new pipeline is needed to supply Iran with the 5 billion cubic meters of gas that it would like to import from Azerbaijan every year.


/Trend/