Iran preparing for post-sanctions period

Central Bank Governor Valiollah Seif has said the Iranian government has started planning for the post-sanctions period to put the economy back on its feet.

The Financial Times quoted him as saying in an interview the government is mapping out strategies to channel funds and accelerate development of key sectors, including oil and gas, tourism and IT.

Seif said the government was carrying “a lot of feasibility studies”, touting Iran’s investment attractions.

However, the governor cautioned against expecting an immediate impact on Iran’s economy, estimating that the removal of sanctions will not be felt before the Iranian year ends next March.
Seif also said European and Arab investors were interested in Iran’s banking sector.

He said “They are asking whether they can get licenses to establish new banks, buy stakes in existing private banks, and whether they can open up branches.”

Seif has already said the government had prepared the economy for the worst scenario in order to sustain its growth no matter what happens in the nuclear negotiations.