Middle East Economic Survey
Sixth Iranian Private Bank Begins Operations
A sixth Iranian private bank known as Sarmayeh (capital) began operations on 9 January after completing the legal procedures and receiving authorization from the Money and Credit Council to carry out all banking activities allowed for a commercial bank. The five other private banks which provide banking services are: Eqtesad Novin (new economy), Parsian, Saman, Pasargad and Kar Afarin. The...