Financial Services

"Western insurers are slowly reaching deals with Iran as they seek to re-enter a multi-billion dollar market although the pace of business is hampered by banking restrictions ten months on from the lifting of international sanctions...European export credit agencies are guaranteeing trade finance for Western companies doing business with Iran. Italian export credit agency SACE has also undertaken its first small transactions with Iran."The lingering risks should not be underestimated, however, as they might create problems ... legal, documentary, operational, for companies interested in building or restoring commercial or financial relationships with local counterparties," a SACE spokesman said." (Reuters, "Cautious Western insurers rebuild business ties with Iran," 10/21/2016).


"During the Italian Government’s business mission to Iran, SACE signed three collaboration agreements with the major Iranian private banks - Bank Pasargad, Bank Parsian and Saman Bank - aimed at facilitating a more rapid and effective resumption of trade and investments in the Country, once the implementation day has been reached." (November 30, 2015).