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Iran, Qatar seek monetary pact as chief bankers meet in Doha

Photo published by Qatar News Agency shows Central Bank of Iran Governor Mohammad Reza Farzin (L) during a meeting with Governor of Qatar Central Bank Sheikh Bandar bin Mohammed bin Saoud Al-Thani in the Qatari capital Doha on January 5, 2023.

Iran and Qatar plan to sign a monetary pact to facilitate bilateral banking ties as chief bankers of the two countries meet in the Qatari capital Doha to discuss increased cooperation between the two top regional lenders.

The Central Bank of Iran (CBI) said in Thursday statement that its newly-appointed governor Mohammad Reza Farzin had travelled to Qatar in charge of a high-ranking delegation of baking and diplomatic officials to meet senior authorities in the Arab country.

The CBI said Farzin had met with Governor of Qatar Central Bank Sheikh Bandar bin Mohammed bin Saoud Al-Thani earlier in the day to discuss plans by Iran and Qatar to sign a key monetary agreement.

Farzin told Sheikh Bandar during their meeting that Iran and Qatar are on track to meet targets set in bilateral relations, adding, however, that signing of a bilateral monetary agreement and engaging in other multi-lateral pacts would help the two countries further boost their ties.

Sheikh Bandar also said in the meeting that Qatar views better banking relations with Iran as a top priority in its policies and decision-making, adding that cooperation between top banks of the two countries would definitely benefit both nations.

Iran and Qatar have sought to expand their political and economic relations since 2017 when Qatar came under an economic blockade by a regional block of countries led by Saudi Arabia.

Relations between the two countries deepened further in the run up and during the 2022 World Cup in Qatar as Iran provided support and assistance to Doha’s efforts to organize the prestigious international tournament.

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