According to a leading Munich newspaper, three Iranian banks have advised the Minister of the Economy of the State of Bavaria that they have received approval, from Iran's Central Bank, to set up overseas branches, and that they all plan to open branches in Munich.
The banks are:
(1) Middle East Bank; head office, Tehran.
(2) Parsian Bank; head office, Tehran.
(3) Sina Bank; head office, Tehran.
What these bank branches will do to Country Risk assessments on Germany is something that compliance officers at EU banks will be considering, when these branches are approved, and become operational.
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