Iranian Bank Accounts Not Closed in Oman

EghtesadOnline: Despite rumors on social media regarding closure of Iranian bank accounts in Oman, the head of Iran-Oman Joint Chamber of Commerce Mohsen Zarabi has said that no Iranian bank account has been closed in the neighboring sultanate.

News ID: ۷۸۴۲۶۱

27 October 2018

Through an official announcement, the chamber on Thursday said all Iranian companies and investors’ bank accounts in Oman are in line with legal regulations and  laws including anti-money, IRNA reported.

The chamber also asked business interacting with Oman to follow authentic news from Iran-Oman Chamber or the Trade Promotion Organization of Iran.

Financial Tribune analysis based on data from the Islamic Republic of Iran Customs Administration shows Iran traded 1.5 million tons of non-oil commodities worth more than $762.6 million with Oman during the first half of the current fiscal (March-Sept), registering 35.8% and 100.9% growth in volume and value respectively compared to the corresponding period  last year.

Iranian exports to the Persian Gulf Arab state stood at 1.21 million tons worth $443.9 million, up 15.7% and 52% in volume and value respectively year-on-year. The southern neighbor was Iran’s 10th major export destination during the period. Iran exported natural gas, hydrocarbons and steel products to Oman.

Meanwhile, Oman exported 322,690 tons of goods worth $318.7 million to Iran, showing a 291% and 263.7% upsurge in tonnage and value respectively compared with the similar period of last year.

Oman was the 14th biggest exporter to Iran over the five months. Imports included vehicles, dietary supplements and field corn.