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FTZ Financial Regulations Under Revision

FTZ Financial Regulations Under Revision FTZ Financial Regulations Under Revision

Plans are underway to facilitate investment in free trade zones through the financial sector, an official with the Supreme Council of Iran Free Zones announced on Saturday. The council is revising the regulations involving financial institutions, a plan which has been put off since 2009, to make it easier for stock and banking firms to present in the FTZs, Naser Khormali told ISNA on Saturday. He said the banking regulation is also under review by the central bank, in an effort to ease facilitate the presence of domestic banks in the zones. The review is expected to be completed by March 2016, he added. “The outlines of the regulations have already been approved by the Money and Credit Council (MCC) and the details will be on the agenda in next meetings of the council,” he explained. Akbar Torkan, secretary of the Supreme Council of Iran Free Zones, earlier criticized the central bank for postponing the revision of the banking regulations in the free zones.

 

Financialtribune.com