Azerbaijan, Baku, August 24/ Trend /
Iran, Turkey, and Iraq began negotiations to establish a joint private bank with $200 million in capital, Mehr News Agency reported quoting Deputy of Iran'sCentral Cooperative ChamberEbrahim Tehrani as saying.
"Measures are prepared to establish a trilateral bank, negotiations began in Tehran in late July and the Central Bank of Iran appears to approve the establishment as long as necessary measures are prepared", he said.
Turkish and Iraqi officials are currently reviewing regulations to establish a bank with their banking systems, he added.
He noted that the new joint bank will be completely private and is trying to establish a framework for the Central Bank of Iran.