Financial and Banking News

Regional Financing

German Banks Cautiously Expand Iranian L/C Business

German banks have started to issue uncovered letters of credit (L/Cs) forIranian commercial banks for the first time since Iran's debt payment crisisbegan two years ago. The first new facilities were written about two months agoand, for the moment, all the banks are taking a conservative line vis-a-vistenors and pricing: they are refusing to offer L/Cs beyond 360...