Talking to IBENA's reporter about banking relations between Iran and Africa, Mohammad Reza Faghihi said the banking relations of Iran and Africa have been impressed by turbulence and current problems of banking system which we have faced them, adding there is a relation with some African local banks, but there is no link with international banks situated in Africa.
Regarding a solution for banking problems and money transfer between Iran and Africa, Secretary General of the Economic Cooperation Council of Iran and Africa in Iran's Chamber of Commerce made the remarks that following these restricts, Barter Fund of Africa has been established to pave the path for barter deal between Iran and Africa as much as possible.
Faghihi went on to say that the fund has been established with the help of Iran's Foreign Ministry, Trade Promotion Organization of Iran and Africa's Committee in Iran's Chamber of Commerce to have barter activities between Iran and Africa, mentioning through this way money exchange between exporters and importers are done by barter, pointing out some commodities are exchanged with some African nations' gold, tea, cocoa and so on.
