Bank Muscat

Financial Services
OM: BKMB
Oman
http://www.bankmuscat.com/

"Three foreign banks are opening up representative offices in Iran as the country seeks to boost investment after reaching an international sanctions deal last year, a central bank official said. Oman’s Bank Muscat SAOG, Woori Bank of South Korea and India’s UCO Bank Ltd. are all in the process of establishing a presence in Tehran, Central Bank Vice Governor Peyman Ghorbani said Tuesday in an interview." (Bloomberg News, "Three Foreign Banks to Open in Iran, Central Bank Official Says," 11/1/2016).

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Bank Muscat is listed as an attendee at the Iranian Base Metals Conference that took place from September 6-7, 2016 in Tehran, Iran. (Iranian Base Metals Conference Attendees, 2016).

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"Iran is gradually restoring banking links with the rest of the world by forging ties with smaller foreign institutions, even though large global banks are still holding back because of legal risks, Iranian officials and foreign bankers say… 'Two hundred small and medium-sized international banks have started correspondent relationships with Iranian banks,' Iran's central bank said in an emailed response to questions by Reuters... Oman's Bank Muscat is another institution doing business with Iran, the Iranian central bank said." (Reuters, “Small banks help Iran slowly restore foreign financial ties,” 6/15/2016)

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"Bank Muscat has received all regulatory approvals to open a representative office in Iran, Oman's largest lender said in a bourse filing on Tuesday. 'The bank is in the process of registering the representative office and expects it to open later in 2016,' Bank Muscat said. On Feb. 25, the bank said it planned to open an office in Iran. Bank Muscat appears to be one of the first foreign financial firms to establish a presence in Iran since the international sanctions, imposed over Tehran's disputed nuclear programme, were lifted in January. Many international lenders continue to shun dealing with Iranian clients for fear of falling foul of the many other restrictions imposed by the United States that remain in force." (Reuters, “Oman's Bank Muscat gets regulatory approvals to open in Iran,” 4/5/2016)

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Referenced as conducting business with Iranian and U.S. banks. (Avi Jorisch, "Iran's dirty banking," 2010)