Iranian Banks Allowed to Guarantee Investments in Oman

The Central Bank of Iran has allowed lenders to issue guarantees for Iranian businesses planning to invest in Oman or those who seek to take out loans from Omani banks, the head of Iran-Oman Chamber of Commerce announced. 
“Iranian investors were not able to put their money into Omani projects mainly due to lack of bank guarantees … However, CBI’s deputy for foreign exchange affairs now allows lenders to issue the guarantees,” Mohsen Zarrabi was also quoted as saying by Otaghonline.ir on Friday.
CBI has required banks to support those who want to launch factories in Oman and reexport Iranian goods to target markets, along with exporters of engineering and technical services who wish to receive loans from Omani lenders and sign BOT or BOO contracts.
The promotion of Iranian business activities in Oman and Qatar is in line with plans for replacing its traditional hub for trade activities, Dubai, with Doha in Qatar and Muscat in Oman.