The Central Bank of Iran (CBI) in a statement said the agreement had been signed between the EXIAR and Bank Sepah, the Export Development Bank of Iran, Bank Parsian and Bank Pasargad.
This followed a basic agreement that the four banks and EXIAR had signed earlier in mid-October, Iranโs IRNA news agency reported.
Iran had earlier been able to seal similar deals with several European as well as Asian financial institutions.
In late September, Austriaโs Oberbank signed a major finance deal with over a dozen Iranian banks based on which it would provide โฌ1 billion in credits to the countryโs companies that invest in the Iranian economy.
Oberbankโs initiative โ that was seen in Tehran as the first of its kind in many years โ was followed on the same day by a similar agreement between Denmarkโs Danske Bank and several Iranian banks.
Accordingly, Danske Bank would allocate a credit line of โฌ500 million for investments by Danish businesses in Iran.
On a related front, Franceโs state investment bank Bpifrance (BPI) announced also in September that it planned to provide funds to French companies that invest in the Iranian economy from next year.
BPI France CEO Nicolas Dufourcq was quoted by media as telling reporters that his bank would grant up to โฌ500 million ($598 million) in annual credits to companies that venture into the Iranian market.