SBP allows commercial banks to revive trade with Iran

27 Feb, 2016

ISLAMABAD: The State Bank of Pakistan has allowed to revive trade activities with Iran after lifting sanctions against Iran by United Nations. State Bank of Pakistan has issued directives to all Pakistani banks and financial institutions in this regard.

 

As per details, when United Nations decided to lift all sanctions against Iran then Pakistan also announced to restore trade ties with Iran.

 

The spokesperson of SBP said that the previous sanctions of banks or FIs have been lifted after the federal government decision to implement the UN resolution regarding lifting of sanctions against Iran now the normal business activities can be commenced with Iran in the light of UN resolution.

 

It is also worthy to mention here that after lifting sanctions against Iran the value of Iranian rupee has increased in local currency market. Thousands of people who visit Iran every year will be benefited with permission of SBP to resume trade ties with Iran.

 

It is expected by SBP that lifting sanctions against Iran would be helpful in the restoration of business activities between two neighbours.