Economy, Business And Markets

Regional Banking Coop. Talks With Oman

Regional Banking Coop. Talks With OmanRegional Banking Coop. Talks With Oman

Governor of the Central Bank of Iran and his Omani counterpart met on Monday to prepare the grounds for the opening of Omani bank branches in Iran.

“Iran and Oman banking relations should not be limited only to banking services between the two sides because we have the potential to extend and expand banking services to the region,” the CBI  website quoted Valiollah Seif as saying.

“Omani banks are welcome to open branches or corresponding offices in Iran,” he added.

“We will not forget Oman’s support for Iran during the years of sanctions. In the new era we want to strengthen our cooperation and friendship, especially banking ties.”

President Hassan Rouhani has tasked the CBI to improve banking relations with Sultanate of Oman, according to the governor.

Hamood bin Sangour bin Hashim Al Zadjali, CEO of the Central Bank of Oman noted that he is on mission to prepare the conditions for opening bank branches in Tehran.

“Our commercial banks will soon send their proposal to the CBI,” he said.

Iran and Oman exchanged views on banking, transit, commercial, industrial, energy and customs cooperation, during Omani Foreign Minister Yusuf bin Alawi bin Abdullah’s meeting in Tehran on Saturday when he was received by Rouhani.

Bank Muscat announced recently that it is ready to issue letters of credit for Iran up to $200-$250 million.

Iran and the Persian Gulf sultanate have had cordial ties both before and after the 1979 revolution. The leadership is Muscat is probably the only one in the region that has had close access to and regular contacts with the governments in Tehran. More recently the Omani government has played an instrumental role in mediating between Tehran and Washington on highly critical issues including the nuclear dispute and some Americans held in Iran on charges related to spying and illegal entry.