Tehran (IP) - The secretary of Iran's Supreme Council of Free Zones says the license to establish the first offshore bank in the country has been issued by the Central Bank of Iran (CBI).

Iran PressIran news: An offshore bank is a bank regulated under international banking license (often called offshore license), which usually prohibits the bank from establishing any business activities in the jurisdiction of establishment. 

Saeed Mohammad said Thursday that the establishment of an offshore bank will provide financial resources for various projects in the free zones.

Mohammad added: "As I said, the shareholders of the offshore bank are foreigners, but Iranians outside of Iran also can transfer their currencies to these offshore banks without worrying about problems in the banks under the supervision of the Central Bank of our country, because these banks are independent of the Central Bank."

Therefore, he said, the Iranians abroad are expected to welcome the transfer of currency to offshore banks in the free zones.

Mohammad made the comments during the ceremony of launching 82 economic projects with the aim of boosting production, creating employment, and social development, on Thursday morning (May 19, 2022).

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82 important economic projects with the aim of boosting production, creating employment, and social development were inaugurated on Thursday morning (May 19, 2022) with the presence of President Ebrahim Raisi.

The Secretary of the Supreme Council of Free and Special Economic Zones Saeed Mohammad held his first press conference in the Supreme Council of Free and Special Economic Zones on Thursday afternoon, May 19, 2022.

Referring to the investment of 6.1 trillion in free trade, industrial and special economic zones in the form of 82 projects, the adviser to the president said that these projects were in five free trade and industrial zones and seven special economic zones.

According to Mohammad, a large number of projects in free trade, industrial and special zones would be put into operation every season, which would be in line with the boosting of production and job creation.

Saeed Mohammad further referred to the investment in the regions in 2021 and said that as with foreign investment, $148 million had been allocated in free trade and industrial zones and $15 million in special zones, bringing the total amount to $163 million.

According to Mohammad, foreign investment in free and special zones is 17% of the total foreign investment in the country in 2021.

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