Iran to set up Financial Hub in Qeshm Island

Iran is preparing to launch a financial hub in its southern Qeshm Island, according to a report from PressTV.

Farhad Taghizadeh-Hesary, a senior adviser to the Qeshm Investment and Development Company (QIDCO), has been quoted as saying that the plan is meant to help the country attract financial institutions to the Iranian market.

He told Bloomberg:

“The aim for this financial center isn’t to look onto Qeshm, but to be a window onto the mainland.

“We have lots of feasible projects in different sectors that are interesting to foreign investors. However, one of the bottlenecks is the lack of access to cheap finance. The financial center can help us access cheap finance.”

He has added that banks from China, Russia and Japan have started negotiations to establish representation offices in the area.

(Source: Press TV)

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