Middle East Economic Survey


No 12



CBI Licenses Another Private Bank In Iran

The Central Bank of Iran (CBI) has issued a license for a new private bank in Iran, which will raise the total number to seven. The newly-licensed Sina Bank was previously operating as Sina Financial and Credit Institute and earlier under the name of Bonyad Financial Institute. Sina Bank will have about $2.5bn in financial resources, an official of the bank said. The CBI stipulated that private...