TEHRAN – Deputy Governor of Central Bank of Iran (CBI) Hossein Qazavi here on Saturday announced that there is no limitation for foreign banks to establish branches in the country.

Qazavi made the remarks in a meeting with the Deputy Governor of Reserve Bank of India (RBI) Rakesh Mohan, adding that new measures have been adopted to remove the limitations for activities of foreign banks in Iran.
The sides stressed the need for expansion of commercial relations and cooperation particularly in the banking sector.
Mohan also welcomed the expansion of mutual banking relations, expressing hope the establishment of two states’ banks will be accelerated