TEHRAN – Over 600 foreign banks have extensive financial and monetary relations with Iran and many other European banks have announced their readiness to establish branches in the free zones, an official in charge of foreign branches of Iranian banks at CBI (Central Bank of Iran) Nasser Mohseni said here Monday.

“The applicants are waiting for permit issuance that is yet to be finalized by the CBI. Other than a Swiss bank that is no longer interested in staying in Iran, we have received no such reports from the rest and they have been continuing their close cooperation with Iranian banks,” he added.

Statistics indicate that many of the foreign banks active in the country hold several branches in Tehran and the free zones.