Iran Infrastructure Q1 2019
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.US sanctions on Iranian oil imports will also havean impact on its respective industries. While the partial easing of sanctions in 2016 has released previously frozen assets, allowingfor increased foreign participation, the heavy state presence in the sector and weak regulatory oversight remain deterrents, alongwith fears of falling foul of remaining and new US sanctions. Two reform bills are currently before parliament for approval, butprogress is likely to be slow given inevitable resistance from key stakeholders. The current withdrawal of the United States from theJoint Comprehensive Plan of Action is also set to hamper the development of the sectors in this industry.
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