TEHRAN – The head of the Kish Free Zone Organization (KFZO) announced on Monday that three private banks have requested opening their branches in Kish Island.

Majid Shayesteh pointed out the matter is currently being reviewed at the Central Bank of Iran.
“Two of the three banks will be operational in the island in the first half of current Iranian year (as of March 21),” noted Shayesteh.
Meanwhile,he announced that policies of the Article 44 of the Constitution have been completely insinuated in the island, adding that 80 percent of the island’s economic activities have been privatized so far.
Kish is a resort island in the Persian Gulf in Hormozgan Province of Iran. The area of the island is 91.5 km² and is considered to be the third most visited Western-oriented cities in the Middle East, after Sharm el-Sheikh and Dubai