CBI governor:

Iran, Oman to establish joint bank to facilitate trade

The Central Bank of Iran (CBI) Governor has said at the end of his three-day trip to Oman that the two countries agreed to establish a joint bank and facilitate bank guarantees for merchants on both sides.

News ID: ۲۰۰۱۳۵۶

28 May 2025

Speaking to journalists on Wednesday, the CBI governor Mohammad Reza Farzin said that “there are challenges for Iranian traders as well as the Central Bank in Oman that we are examining and resolving.”

He said that Facilitating the issuance of bank guarantees for Iranian and Omani traders was on the agenda. Another issue discussed was the shipping line, which good agreements were reached in this regard, too. The shipping line from Chabahar Port to Oman has been launched, which will be an effective step to facilitate trade and reduce transportation costs."

Farzin added that, “In the negotiations that have been held, the parties reached an initial agreement to allocate a certain space, such as a port, for Iranian commercial activities.”

Stating that one of the serious obstacles to the activities of Iranian businessmen in Oman was the problem of guarantees, he announced that, "A practical solution to this issue is planned to be found with the participation of Iranian and Omani businessmen in a joint meeting."

"We are examining the possibility of establishing a bank and developing joint monetary activities with the Omani side, Farzin added.

According to the CBI chief, "We are going to define a tourist credit card so that Omanis in Iran or vice versa can easily transfer money, which I think will be created within the next two months."

"All in all, we reviewed all monetary and banking issues and reached an agreement that both settlement and transfer operations should be facilitated," Farzin concluded./ Mehr