Foreign banks able to open branches in Iranian FTZs

TEHRAN, Jul. 29 (MNA) – Central Bank of Iran announced on Tuesday that Foreign banks can set up branches at Iranian Free Trade Zones (FTZs), .Central Bank of Iran said that the decision is in line with the country’s resistance economy to strengthen the country’s FTZs.

According to CBI, the decision was made following success of the government in international scene to strike a deal with the western governments aiming to attract foreign capitals and facilitate bank transactions.

Central Bank’s decision also applies to the Iranian banks operating with non-Iranian currencies.

CBI said that supervision over foreign banks and disciplinary measures have been envisaged on the directives.

By Mehr News Agency