ANNOUNCEMENT 18 Mar 2009In March 2009, the government of Iran announced changed rules for foreign investors.
NUMBER OF INTERVENTIONS
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.