WANA (May 01) – In a significant development during President Masoud Pezeshkian’s one-day visit to Azerbaijan, the Baku branch of Bank Melli Iran has officially reopened.

 

Iran’s President Masoud Pezeshkian traveled to Azerbaijan at the invitation of President Ilham Aliyev, with a primary focus on expanding cooperation and fostering stronger relations between the two neighboring countries.

 

Economic collaboration was a central theme of the trip, leading to the signing of seven memorandums of understanding.

 

During the visit, the presidents of both nations emphasized the importance of enhancing economic ties between Iran and Azerbaijan, particularly at a conference attended by Iranian and Azerbaijani business leaders.

 

At the event, economic stakeholders raised their concerns, one of the most pressing being the absence of branches of Iranian banks in Azerbaijan.

 

This gap in banking infrastructure has hindered the smooth flow of economic transactions between the two nations, which share significant cultural and historical commonalities.

 

In response to these concerns, Abolfazl Najarzadeh, CEO of Bank Melli Iran and Chairman of the Coordination Council of Iranian State Banks, took to social media to announce that, “following President Pezeshkian’s valuable visit and with the directive from President Aliyev, the Baku branch of Bank Melli Iran has resumed operations.”

 

He stated, “This decision symbolizes the determination of both countries to enhance commercial relations and offers a golden opportunity for economic activists.”