Rial Accounts for Foreigners

In order to optimize the opportunities created by the removal of sanctions following Iran’s nuclear deal and to ease banking services to foreign investors, the Central Bank of Iran has communicated a directive allowing foreigners to open rial deposit accounts in the country’s banking network. In the 1,227th meeting of the Money and Credit Council on January 3, 2017, new regulations were approved to facilitate the opening of rial bank accounts for foreigners. After the successful implementation of those regulations, more credit and banking services are expected to become available to foreign investors in the near future.