KARACHI, Oct 18: Bank Milli Iran, the largest bank in Iran, will shortly open its branch in Karachi. The move is aimed at increasing trade with Muslim countries.

This was stated by Zafarani A. Hassan, the bank’s board member, during a meeting with office-bearers of the Federal of Pakistan Chamber of Commerce and Industry.

The two-member delegation of the bank, accompanied by the consul general and commercial counsellor of Iran in Karachi, announced that the branch would be opened within six months. Milli Bank has 3,200 branches in Iran and 12 branches with four subsidiaries outside Iran.

Mr Hassan said that the branch was being opened in the light of the government’s policy to change the direction of trade towards Muslim countries. He said that all documents required had been handed over to the State Bank for the issuance of a licence to open the branch.