Three foreign banks permitted to work in Iran

Three foreign banks have received the permit to have banking activities in Iran, announced the Central Bank of Iran (CBI) governor here on Monday. 
 Tahmasb Mazaheri added that the banks could work either independently or jointly, reiterating that there is no limitation for foreign banks’ presence in Iran.
He urged the banks to upgrade their expertise to prevent the liquidity rise and inflation in the country.
Referring to the allocation of $10 billion by the government for empowering the banking activities, the official added the measure aims to accelerate the enforcement of the Article 44 of the Constitution.
“Despite sanctions imposed by the U.S. on the activities of some Iranian banks, foreign banks will face no restrictions in making investments in Iran or engaging in banking activities,” said Mazaheri.
The CBI governor added the recent restrictions on Iranian banks have no legal justification and measures will be taken to counteract them.


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