Despite the reality that the political decision with this issue is made, you will find technical problems – transactions with Iranian banks are ?still impossible within Europe and America and Georgia.
Despite that Georgia failed to officially join the sanctions against Iran, a little time is needed ?in order to normal banking relationships.
According to Zurab Gvasalia, obama of the Association of Banks of Georgia, ?Georgian banks must obtain a directive in the government about the lifting of sanctions after which you can ?transactions will be restored ?in ?2-3 days.
“Directives need to be distributed by ?anyone authority, which announced the sanctions. Banks will have to perform certain activities into their ?system that can take 2-3 days. Should the EU decides to reconnect the Iranian banks to SWIFT international payment system, ?the transactions shall be done with no? problem. With regards to correspondent accounts, in this instance this will depend on banks themselves. Concurrently there’s lots of banks intermediaries whereby you are able to transfer funds to Iranian legal or natural persons with no problems,” says ?the banker.
According towards the Ministry of Justice, to ?lift? the sanctions, certain procedures have to be performed.
“Should the Not decides to lift the sanctions on specific individuals or organizations, a notification might be mailed in this regard into the countries cooperating with the U . n ., including Georgia,” say from the Ministry.
Chairman ?from the Georgian-Iranian Chamber of Commerce Vano Mtvralashvili says ?if the Georgian side, particularly the banking sector, doesn’t lift restrictions in a timely manner, major investments from Iran to Georgia will continue to be impossible. Relating to Iran, just as one investor, the financial institution transfers still remain the major problem when the Iranian businessmen are unable to purchase Georgia. Large investments from Iran are not to be carried out in our country because the state capital can’t use the services of banks. While, all large investment groups, including banks, are from the state in Iran,” he notes.
In his words, the ecu banks will remove restrictions from Iran every day and Georgian banks also should not delay the process.?Mtvralashvili adds that ?the restoration within the transactions between the Georgian and Iranian banks can take only 1,5 months.