Economy, Business And Markets

Bank Muscat to Open Branch

Bank Muscat to Open Branch Bank Muscat to Open Branch

Bank Muscat, the sultanate’s biggest financial institution, plans to open a branch in Tehran, said a senior official of Central Bank of Iran on Wednesday. This is expected to be the first international bank branch which would open in Iran after the lifting of the economic sanctions last month, Times of Oman reported.  The strong bilateral economic relations between Iran and Oman are expected to generate higher demand for banking facilities in the coming months. “There are also other applications. Foreign banks have had branches in Tehran even during the sanctions. But after the nuclear agreement with the six world powers, this is the first to be opened,” said Ahmed Azizi, advisor to the CBI governor.  He did not give a time frame on the opening of the Omani bank.