EghtesadOnline: Iran has endeavored for years to devise the right set of conditions to facilitate the entry of foreign financial institutions in its free trade zones and those efforts only intensified following the implementation of the nuclear accord that spotlighted the importance of having correspondent banking relations.

EghtesadOnline: Tehran Chamber of Commerce, Industries, Mines and Agriculture has conducted a study on the presence of foreign banks in different countries and its economic impact, underscoring the lack of such a presence in Iran and the missing advantages.

EghtesadOnline: A number of foreign banks have submitted applications to set up branches in Iran, the Central Bank of Iran's deputy for foreign exchange affairs announced.