Iran to set up the first off-shore bank

The Secretariat of the High Council of Free Zones has been pursuing the establishment of an Offshore Bank in the Free Zones since last year, officials said.

“In Note 3 of Section E Paragraph 1 of the Budget Law 1401, the Central Bank is obliged to implement financial and banking infrastructure measures compatible with the country’s business plan in cooperation with other relevant institutions and report the performance of this paragraph once every three months to the program and budget commissions and Accounting and economic of the Islamic Council and the Accounts Court of the country.”

A suitable package has been prepared for domestic and foreign shareholders regarding Offshore Bank, which will be sent to the Central Bank by next week, and according to the law, the Offshore Bank will be launched under the supervision of the Central Bank.

One of the most important priorities in free zones that encourage investors to invest in these zones is the facilitation of monetary and banking services, and it is mentioned in the law.

 

The trade balance in the free zones became positive.

Advisor to the President and Secretary of the Supreme Council of Free Commercial-Industrial and Special Economic Zones also added: “Our exports reached 863 billion tomans in the nine-month period, which is 27% higher than the same period last year, and for the first time in the country, the trade balance of the zones Azad tested positive.

In the past year, 35 thousand billion tomans of domestic investment have taken place in free zones, which has increased by about 58% compared to the same period of the previous year.”

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