Published On: Tue, Jan 30th, 2018

Banks Reluctant to Open Branches, Fear International Sanctions on Tehran

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Sanctions on Tehran

With sanction stricken economy due to lots of reservations on the nuclear enrichment program, investors and institutions are hesitant to bear the international heat grappling and impacting with Sanctions on Tehran. In a similar bid, Pakistani bankers are also not willing to open their branches in Iran as they fear international Sanctions on Tehran might disrupt their services. Inamullah Dharejo Secretary Trade Development Authority of Pakistan (TDAP) told that bilateral trade between two countries is not getting pace due to banks reluctance.  He was talking to media channels during the session of strategic trade policy framework 2018-23, he also said that although State bank of Pakistan (SBP) is actively pursuing the matter, so far no concrete measure has been taken to improve the volume of trade.

We only can improve the barter approach at the moment which again will be limited in its scope as the banks would not be involved, said Inamullah.

Afghanistan also carries great potential and opportunity for bilateral trade. And also is very vital in regional connectivity to Pakistan but due to the political issues between two countries, the smooth work environment has always been a dream.

The government is conscious to improve trade volume to add gains into the economy and for this purpose; a target of 16 countries ‘Look Africa’, with$10 trillion revenue over the years for the future is under consideration.

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