Indian bank opens $150m line of credit for Iran
Import Bank of India (Exim Bank) has signed a memorandum of understanding with a number of Iranian privately-owned banks, according to which the Indian bank will open a $150 million line of credit (L/C) for Iran to import Indian goods and implement technical and engineering projects./ The MOU was signed in New Delhi between India’s Exim Bank and representatives of Iran’s Saman, Pasargad, Parsian, Karafarin, Eqtesda Novin, and Keshavarzi banks, the IRNA news agency reported on Tuesday./ A line of credit is an agreement between a bank and a ...
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