Middle East Economic Survey


No 38



Foreign Banks Issued Permits To Set Up In Iran

Four banks from India, Malaysia, Qatar and Saudi Arabia have been granted initial permits to open branches in Iran, the head of the Organization for Investment, Economic and Technical Assistance of Iran Behrouz Alishiri said last week. The Iranian official added that these banks would be able to start operating in the country with the minimum initial capital of $300-400mn, and noted that the...