Bank Muscat Says to Open Iran's Office in 2016
TEHRAN (Tasnim) – Oman’s Bank Muscat said the lender’s first representative office will start its activities in Iran later this year.
"The bank is in the process of registering the representative office and expects it to open later in 2016," Bank Muscat said, Reuters reported.
On February 25, the bank had announced that it planned to open an office in Iran.
The announcement came after the Central Bank of Oman (CBO) approved the request from the bank to open a representative office in Iran following the removal of anti-Tehran sanctions.
There has been growing interest in trade and banking ties with Iran since Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) reached a nuclear deal on July 14, 2015 and started implementing it on January 16.
The comprehensive nuclear deal, known as the JCPOA, terminated all nuclear-related sanctions imposed on Iran.
