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Iranian banks open up new links in Oman and Europe

Iranian banks are continuing the tortuously slow process of expanding their international operations in the wake of the nuclear deal, which lifted some (but not all) sanctions, with two banks reopening their branches in Oman and a third opening a representative office in Europe. It was announced that the local branches of Bank Melli Iran and Bank Saderat would be “reactivated”, after being mothballed during the sanctions era, during a late May visit to Muscat by Bank Markazi-ye Jomhuri-ye Eslami-ye Iran (Central Bank of Iran – CBI) governor Valiollah Seif. Central Bank of Oman executive president Hamood Bin Sangour Bin Hashim Al-Zadjali and Seif also agreed to connect their card payment systems so customers can use ATMs in both countries and to develop more correspondent banking relations

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