Iran and Algeria signed a Memorandum of Understanding (MoU) to set up a joint bank in near future.
During a meeting attended by the Governor of Central Bank of Iran (CBI) Valiollah Seif and his Algerian counterpart Mohammed Laksaci, the two sides signed an agreement to share views in the fields of monetary and foreign currency policies and management of reserves.
The deal includes exchanging expert delegations, holding seminars, establishing educational workshops and providing the commercial banks with incentives to establish relations as well as setting up a joint bank.
A committee to pursue the process of implementation of the agreement will be also set up soon.