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MCC Passes FTZ Banking Laws
Economy, Business And Markets

MCC Passes FTZ Banking Laws

Iran’s highest banking regulatory body approved a directive for banking operations in economic free zones on Tuesday. The Money and Credit Council’s directive aims to ease the attraction of foreign capital and focuses on banking operations in Iran’s economic free zones—including regulations on establishment, activity, oversight and closure of financial institutions, IRNA reported. The directive also covered bank’s foreign exchange operations in the free zones. The report did not include details of regulations.

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