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German banks to start operations in Iran

German banks are expected to begin operations in Iran once the sanctions against the country are fully lifter. An Iran’s Central Bank governor Valiollah Seif said Germany’s vice chancellor Sigmar Gabriel, who is also the federal minister of economic affairs, agreed to this during his recent trip to the Iran. Seif did not name the German banks, which will start operations. Seif encouraged more international investments in Iran but said such investments should not exceed 40% [of the bank’s total assets].

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