Azerbaijan, Baku, May 28 /Trend/
Iran's Foreign Investment Company and Economic Ministry will review the establishment of four foreign banks, Fars News Agency reported quoting the head of Bank Saderat Iran Mohammad Jahromi as saying.
"The Money and Credit Council will welcome foreign banks' appeals to establish foreign banks and send them to Central Bank of Iran for final decision," he said.
Iran seeks to encourage foreign investment to boost economical revenues.
The United States has stepped up its efforts to isolate Iran-linked commercial entities tied to nuclear program since the United Nations Security Council ordered a fourth set of sanctions against Iran in June 2010.
The U.S. Congress approved financial sanction against Iran in 2010 which impose strict conditions for foreign investors and financial firms.