By John Lee.
Bank Muscat has issued a statement saying that it is in the process of establishing a representative office in Iran.
“We will ensure full compliance with all local and international regulatory requirements. We will inform the market once all regulatory approvals are in place,” the bank said.
According to Reuters, the announcement appears to make Bank Muscat one of the first foreign financial firms to establish a presence in Iran since the removal of international sanctions.
(Sources: Bank Muscat, Reuters)