No. 38



CBI Announces Regulations For Foreign/Private Banking In Free Trade Zones

The Central Bank of Iran (CBI) last week issued new regulations and bylaws for foreign/private banks and credit institutions in Irans three free trade zones. The regulations are based on the legislation passed in July 1999 which allows foreign entities to establish and fully own banks and insurance companies in the free trade zones on the Gulf islands of Qeshm and Kish and at the...