Why is Iran so desperate to buy a Venezuelan bank? Banking sources have theorised that Iran's newly-formed controlled Venezuelan bank, Banco Internacional Desarrollo (BID) is too small to efficiently move large amounts of money around the US sanctions. Thus, Iran needs an established bank, with foreign
branches and correspondents, to move funds in international trade, to satisfy its purchasing needs.

There is no indication at this time that a formal purchase offer has been tendered, or that the bank is actually for sale, nor has Sr. Vargas [World-Check UID 441618] publicly commented on the bank's position in this matter. Our readers will recall that when the news surfaced that the Venezuelan financial institution, Banco Confederado, was a potential target for purchase by Iran, the bank's attorney publicly denied that the bank was for sale, which news we promptly published.

World-Check is known for fairness and objectivity in reporting; We therefore invite Corp Banca to respond on the record,  and undertake to publish the text of any such response verbatim.