Publish Date: 23 July 2008 - 19:54

Iran to set up first tourism bank

TEHRAN, July 23 (MNA) – Iran’s first tourism bank will be established through a joint venture by 13 private sector entities and the Central Bank, Iran Cultural Heritage, Handicrafts and Tourism Organization chief said here on Wednesday.

Mehr quoted Esfandiar Rahim Mashaie as saying, “The private and the public sectors will provide 60 percent and 10 percent respectively of the bank’s capital investment.” The remaining 30 percent will be secured through subscription of bonds, he added.

RVA/MG/MRK

END

MNA