Iranian Bank in Basra

The Iranian consul in Basrah province, on Monday, said there will soon be an Iranian bank in the province to develop trade between the two countries.

According to Mohammad Reza, "the Islamic Republic is currently working to open a bank in the province of Basrah as a movement to develop trade and economic relations between Iran and the province."

He added that "it is expected to open this bank in a short period to the benefit of Iranian businessmen and Iraqis. We seek to help Iraqi businessmen find commercial opportunities in Iran.The volume of trade between Iran and Iraq during the past year amounted to four billion dollars or so."

He said, "We hope that the volume of trade between Iran and Iraq in the coming years will reach ten billion dollars."

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