AKIPRESS.COM - An Iranian official said Tuesday that German banks are expected to open Iranian branches once sanctions are fully lifted, The Jerusalem Post reports.

In an interview with Iran's Press TV on Tuesday, Iran's Central Bank Governor Valiollah Seif said Germany's Vice Chancellor Sigmar Gabriel, who is also the federal minister of economic affairs, agreed to the move during his recent trip to the country, though did not name specific banks.

Gabriel was quoted as saying that Germany is "interested in restoring banking relations with Iran as soon as possible after the removal of the sanctions.”

Seif encouraged more international investment in Iran but said "their investment should not exceed 40 percent [of the bank’s total assets].”

The vice chancellor's three-day business trip to Iran in July sparked a wave of intense criticism from members of his social democratic party and NGOs for putting business above all else.