Iran Banking & Financial Services Q4 2018
Iran's banking and financial services sector will remain underdeveloped by global standards, as years of sanctions havelimited the involvement of foreign firms and their associated capital and expertise. While the partial easing of sanctions in 2016 hasreleased previously frozen assets, allowing for increased foreign participation, the heavy state presence in the sector and weakregulatory oversight remain deterrents, along with fears of falling foul of remaining and new US sanctions. Two reform bills arecurrently before parliament for approval, but progress is likely to be slow given inevitable resistance from key stakeholders. Thecurrent withdrawal of the United States from the Joint Comprehensive Plan of Action is also set to hamper the development of thesectors in this industry.
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