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Minimum Capital for Banks in FTZs

Minimum Capital for Banks in FTZs Minimum Capital for Banks in FTZs

Money and Credit Council–a decision-making body– has increased the minimum capital needed for the establishment of banks in free trade zones from €25 million to €150 million. The MMC also prohibited non-banking institutions from operating in FTZs, according to Central Bank of Iran statement released late Tuesday. As per law, foreign entities are allowed to own 100% share of banks in the free areas.

 

Financialtribune.com