Central bank introduces foreign banks authorized to work in Iran

Baku, Azerbaijan, June 6

By Khalid Kazimov – Trend:

Central Bank of Iran (CBI) has published the names of authorized banks to do business in the country, including five foreign ones.

The CBI website has introduced Standard Chartered, Futurebank, Taawen Islamic Bank, the European-Iranian Trade Bank AG as well as Iran Venezuela Bi-National Bank as the foreign banks with a license to do business in the Islamic Republic.

According to the CBI, there are 40 licensed banks and monetary institutions in Iran.

This is while the issue of unauthorized financial and credit institutions have spelled serious trouble for the CBI and mergers of several banks are expected in the country.