Iran has proposed to Azerbaijan the establishment of a joint bank. The
proposal was made by Iran's deputy vice-president, Ali Aga Mohammadi,
the head of the economic affairs control department of the Iranian
president's office, at a meeting with the chairman of the board of
Azerbaijani Central Bank Elman Rustamov on Wednesday in Baku, Trend
reports, citing the Iranian embassy in Azerbaijan.
Bank Melli Iran is the only bank in Azerbaijan with Iranian capital.
Mohammadi also proposed making joint investments, providing benefits
for opening the accounts for entrepreneurs of both countries. He added
that using the national currencies of Azerbaijan and Iran for trade
operations will help develop business.
