ANNOUNCEMENT 18 Mar 2009

In March 2009, the government of Iran announced changed rules for foreign investors.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE



1) Decree Number 87/67813 (http://www.nourlaw.com/)
2) Law Office of J. Nouraei & M. Mostafavi, Members of Iranian Central Bar Association, 14 April 2009 (http://www.nourlaw.com/)


Inception date: 18 Mar 2009 | Removal date: open ended
Still in force

FDI: Entry and ownership rule

On 18 March 2009, the Council of Ministers with its decree Number 87/67813 has set the rules for regulating the activity of foreign banks .

For years, Article 44 of the Iranian Constitution placed banking activities exclusively in the hands of the government. Only with the privatization law, which came into force in summer 2008, the normal functioning of foreign banks in Iran is allowed.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A