Launching offshore Bank to Process International Payments

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Iran is to Launch offshore bank on one of its Gulf Islands within a month. The bank will be located and set up on Kish Island, which has developed as a Tourism destination and free trade zone over the past few decades. The aim is to tap into rising demand for cross-border banking and transactions. As of June.5th.2016 the deputy head Ali Jirofti also mentioned, that the new unnamed offshore bank will be able to transfer money and facilitate domestic and foreign investment activities.

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