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Based on a recent directive by the Central Bank of Iran (CBI), the Iranian commercial banks are authorized to open IR Rial bank accounts for foreign individuals and institutions.
Resident and non-resident foreign individuals and institutions are consequently able to have their saving, as well as interest-bearing accounts.
Individuals need to apply in person, and institutions are required to provide their documents, audited and approved by one of the Iranian representatives in their domicile or a nearby area.
