Bahrain-Iran Future Bank to open in Oman

“The Central Bank’s board approved in principle for Future Bank to incorporate the local operations of Bank Melli Iran and Bank Saderat Iran and open a branch,” Hamood Al-Ambouri, head of banking affairs at the Central Bank of Oman, told Reuters.

Future Bank was formed earlier this year by Iran’s state-owned banking system and Bahrain-based Ahli United Bank with an initial paid up capital of $99 million.