Tehran, 2007 Nov 20, MNA

Iran has issued permits for foreign banks' presence in the country, said the economic affairs and finance minister here on Tuesday. 

Davud Danesh-Ja'fari voiced his country's preparedness to cooperate with regional states in economic activities.

Referring to the three foreign banks which have received the permits, he added that the branches of the banks will be inaugurated in Tehran in the near future.

Although the Organization of the Islamic Conference (OIC) has 50 members, they meet only 15 percent of each other's need, said the minister, calling for boosting cooperation.

Iran earmarks facilities for foreign investors, the official said, adding Iran has signed US$10.724 billion worth of investment deals in the first six months of the current Iranian year (started March 21).

He put the figure of the preceding year at US$10.777 billion.