Iran says in talks with foreign banks to open branches in FTZs
Tehran, Iran, Oct. 9
Secretary of Iran’s High Council of Free Zones Morteza Bank said the council is in talks with foreign banks to open branches in the country’s free trade zones.
“Iran’s free trade zones have excellent conditions for banking and financial activities,” Bank said, IRIB news agency reported on October 9.
The FTZs need more attention and they have great potential to drive the country’s economy, he added.
“We are in talks with the Central Bank of Iran to pave the way for the establishment of foreign banks in free trade zones across the country,” Bank said.
Iran is home to seven free trade zones, namely Kish, Qeshm, Chabahar, Anzali, Arvand, Maku and Aras, and 64 special economic zones.
According to the CBI, the banks should bring in 50 million euros as an incentive package in order to be able launch branches in the country, he said.