Iranian private sector ready to buy shares of Pakistani banks

Tehran, Iran | August 02, 2007 by D-8 Secretariat

New Head of Iranian Chamber of Commerce, Industries and Mines Mohammad Nahavandian said on last week that the Iranian private sector is ready to buy shares of Pakistani banks.

Nahavandian made the remark in a meeting with Pakistani Ambassador to Tehran Iqbal Shafkat Saeed on Thursday, July 19. Iranian private sector has announced that it's ready to increase its presence abroad and has voiced willingness to buy shares of Pakistani banks, he said.

Referring to very good banking cooperation between Iran and Pakistan, the Pakistani ambassador said Iran and Pakistan have recently established a joint investment company.

Through collective cooperation with Iran and under the guidelines of the Iranian Chamber of Commerce, Industries and Mines, Pakistan can can purchase a electric power plant from Iran and is now negotiating with Iranian officials to invest in gas sector, he said.

D-8 Director, Ambassador Kia Tabatabaee said that existing shortcomings in the region will induce the countries of the region towards non-regional banks and the Iranian banks are seem determined to act as a good option to this end. "This type of cooperation can be a good model for other member states of D-8 organisation to broaden their cooperation at regional and international fora," he said in D-8 Secretariat last week.

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