Araz News:  The joint Iran-Venezuela bank is not given much freedom and it is not much of a bank as a result, Vice President of the Central Bank of Iran in Supervisory Affairs Hamid Tehranfar said,Trend reported.

It is not much of a bank, because there is no public deposit, that is, the section that is to give people facilities does not exist, he further said, Trend correspondent reported from Tehran on August 25.

Tehranfar noted that the joint Iran-Venezuela is being managed one-sidedly by Iran.

The Venezuelan side does not participate in the general assemblies, according to Tehranfar.

“They do not even attend board of governors sessions, therefore the board does not reach the minimum members required,” he added.

Called the Iranian-Venezuelan Bi-National Bank, the bank was launched with $1.2 billion fund, and then sanctioned by the U.S. in September 2013.

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