PJSC MJSB “Tempbank” has established cooperation with the Islamic Republic of Iran and the Syrian Arab Republic
PJSC MJSB “Tempbank” runs business activities in the Islamic Republic of Iran. Bank had organized up to 20 round tables with participation of business groups of the Russian Federation and the Islamic Republic of Iran which are aimed to organize mutually beneficial cooperation and to develop good relations between two countries.
Correspondent accounts have been opened in Tempbank for Central bank of the Islamic Republic of Iran, State export bank of the Islamic Republic of Iran and other Iran banks.
The Bank has served as a fiscal warranter of a large Russian company in meeting their liabilities on drilling operations state contract on the territory of the Syrian Arab Republic under the agreement of product sharing. The acceptance of our warranties is a result of our business activities appreciation by the Central bank of Syria that has also opened correspondent account at the Bank.
Amid Russian banks we are, de facto, the only one to operate directly with the Central bank of Syria performing settlements with Syrian partners to carry out state objectives on developing cooperation with the Syrian Arab Republic.
On May 8th, 2014 through the media we knew of the sanctions imposed against Tempbank by the US Ministry of Finance in terms of money transfers in dollars restrictions and ban on cooperation with Tempbank of US citizens and companies. It led MasterCard, Reuters, Western Union payment systems to stop operating with the Bank. Sanctions were also put on the chairman of the board of the Bank M. Gagloev.
The imposed sanctions once again demonstrates the aggressiveness of the US policy on disrupting the Russian finance system stability and desire to isolate the Russian Federation, to reduce the development of good-neighbourly and mutually beneficial relations with Syria and Iran. We believe that these sanctions are also aimed to restrict Russian business companies to participate in the process of fuel-power complex of the Syrian Arab Republic development.