Iran's Sina Bank to open branch in Munich

We have sent required documents to KPMG Company, Member of Sina Bank board of directors told Islamic Republic News Agency (IRNA) on Saturday.

KPMG is a professional service company and one of the Big Four auditors, along with Deloitte, Ernst & Young (EY), and PricewaterhouseCoopers (PwC).

KPMG has review documents as regard risk management and fighting money laundering, he said.

Sina Bank and Bavarian Industry Association (vbw) agreed to open branch of Iranian bank last year.

Based on the agreement, both sides will boost cooperation in information technology, food industry, banking operation, financial services, building industry, agriculture, animal husbandry, renewable energies, textile industry, tourism, joint investments and technical information exchange.

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