The Central Bank of Iran and the Korea Development Bank has signed a memorandum of understanding with an aim to boost banking ties. The memorandum was signed CBI foreign exchange affairs deputy governor Gholamali Kamyab and Lee Dong-Geon of KDB. Gholamali Kamyab expressed hope that cooperation with the KDB will help develop trade between Tehran and Seoul. Boosting banking relations between the two countries is necessary for the joint investments, he said. Iran expanded ties with east Asian countries when western countries imposed sanctions against the Islamic republic, and Tehran is committed to developing relations with them in the post-sanctions era, he added.
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