Bank Muscat to open branch in Tehran

The approval makes Bank Muscat one of the first foreign financial firms to establish a presence in Iran following the recent implementation of the Joint Comprehensive Plan of Action (JCPOA) between Tehran and six world powers, the Jordanian news website al-Bawaba reported on Monday.

Bank Muscat did not give any information about when the bank will officially start its activity in the Islamic Republic.

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 JCPOA, terminated all nuclear-related sanctions imposed on Iran.

Source Article from http://theiranproject.com/blog/2016/03/29/bank-muscat-open-branch-tehran/

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