19 Mar 2024
Tuesday 29 March 2016 - 22:02
Story Code : 207378

Bank Muscat to open branch in Tehran

TEHRAN (Tasnim) The Central Bank of Oman (CBO) has approved the request from Bank Muscat, Omans largest lender by market value, to open a representative office in Iran, a report said.





The approval makes Bank Muscat one of the first foreign financial firms to establish a presence in Iran following the recent implementation of the Joint Comprehensive Plan of Action (JCPOA) between Tehran and six world powers, the Jordanian news website al-Bawaba reported on Monday.

Bank Muscat did not give any information about when the bank will officially start its activity in the Islamic Republic.

Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) reached a nuclear deal on July 14, 2015 and started implementing it on January 16.

The comprehensive nuclear deal, known as JCPOA, terminated all nuclear-related sanctions imposed on Iran.


By Tasnim News Agency
https://theiranproject.com/vdcguu9x7ak9zw4.5jra.html
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