Iran’s ‘outdated’ banks hamper efforts to rejoin global economy - FT.com:
"Companies across the world are lining up to explore opportunities in Iran, and Tehran is keen to lure them, after a range of international sanctions was lifted this weekend. But if businesspeople and politicians are ready, the country’s banks are not.
“Our banking system, like our economy has been isolated and has no idea what has happened in the world over the past decades,” says one senior Tehran banker.
Iran’s economy is in dire need of refinancing. Years of sanctions imposed over its nuclear programme, combined with the populist policies of former president Mahmoud Ahmadi-Nejad, have left it with negative economic growth in most years since 2011 and a youth unemployment rate of about 25 per cent."
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