Iran: Qatar to replace UAE for Iran's currency transfers
A senior official at the Central Bank of Iran (CBI) announced on Tuesday that Qatar will turn into a new hub for the country's currency transfers after the recent problems with Dubai, UAE.
"Given the problems with Dubai in transferring currency, the currency relations with Qatar will expand," the official who called for anonymity told.
"Iran's Bank Melli and Parsian Bank have opened accounts in the Qatar National Bank and based on plans, (Iran's) Bank Saderat will play a new role in area of currency transfers and LCs," the official added.
Asked if the decision will turn Qatar into a hub for Iran's currency transfers, the official said, "We are trying to make this happen."
Qatar National Bank is a Qatari commercial bank headquartered in Doha, Qatar.
QNB Group has steadily grown to be the biggest bank in Qatar and the largest financial institution in the Middle East and Africa region.