Nouraei & M. Mostafavi Law Offices – July 31, 2024- Tehran- As reported in the Official Gazette of 30 TIR 1403 (20 July 2024), the Council of Ministers, by its Resolution No. H62787T/60035 states that Article (14) of the Comprehensive Plan for the Realization of the General Policies of Sea-oriented Development, subject to resolution No. H62336T/26987 dated 19/2/1403 (8 May 2024 ) was amended as follows:
“Article 14- The Secretariat of the Supreme Council of Trade-Industrial and Special Economic Free Zones and the Secretariat of the Mokran Development Council are obliged in compliance with the laws and with the cooperation of the Central Bank of the Islamic Republic of Iran to proceed with launching four offshore banks with a possible investment of the private sector within one year from the date of notification of this Resolution to provide efficient methods for foreign currency transfers and the possibility of international financial communication (international interbank financial communication (SWIFT) and other international transfer tools) as well as banking operations of offshore banks’’.
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