Turkey says no discrimination against Iranian banks

Development Minister Cevdet Y?lmaz said on Sunday that not all Iranian banks are currently under embargo in Turkey, and that if they take steps to open banks in the country they will not be discriminated against Today`s Zaman reproted

During his meeting with a group of reporters on trade relations with neighboring countries, Y?lmaz raised the existence of the embargo against Iranian banks, emphasizing that there are some Iranian banks not included in the embargo that have expressed an interest in entering the Turkish market and made attempts to do so. He noted that as long as international law is not violated, these banks are free to submit their applications to the Banking Regulation and Supervision Agency (BDDK). Referencing the meeting between Turkish President Abdullah Gul and Iranian Vice President Ali Saidlu on Friday, which focused on bilateral relations between Turkey and Iran, particularly concerning the energy sector, Y?lmaz stated that Turkey had requested a reduction in the price of natural gas. He stated that parties are discussing the possible discount and, if provided, arbitration could be avoided.

Y?lmaz noted that Iran had been informed at the meeting about the new Commercial Code (TTK), effective as of today, which is expected to increase investments and prevent illegal trade in Turkey, while interrupting the flow of money to terrorist organizations. He also mentioned that due to different methods of calculation Turkish truck drivers had been paying overly high prices for fuel, and said transportation ministers on both sides are working towards a solution to compensate for the difference.

Y?lmaz suggested that although there are currently no difficulties in financial relations between Turkey and Iran, the interference of third party nations could pose risks to this stability. "Gold trade has been used as a payment method due to the difficulty of accessing foreign exchange, leading to delays in payments," he said.


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