By John Lee.
Iraq's state-owned Rasheed Bank has applied for permission to set up a branch in Iran.
At a meeting on Sunday between Iran's Minister for Industry, Mining and Trade, Mohammadreza Nematzadeh, and Iraqi Minister for Industry and Minerals, Mohammed Shia 'Al Sudani, Minsiter Al Sudani said he hoped the application would be approved.
He pointed out that five Iranian banks have branches in Iraq.
(Source: Iranian Ministry for Industry)