UAE banks stand to benefit from Iran’s rebound | GulfNews.com:
"Lifting of economic sanctions on Iran could be a boon for the UAE banks that have close ties with businesses in Iran according to the Institute of International Finance (IIF).
“The UAE and Lebanon would benefit from the economic rebound in Iran. Given Lebanon’s financial skills and regional ties, it could play an important role in the future financing and channelling of investment needed by the Iranian economy. More foreign companies could be based in Dubai to do business in Iran,” said Garbis Iradian, Chief Economist, Africa/Middle East of Institute of International Finance (IIF).
The UAE’s exports to Iran (mostly re-exports) amounted to $33 billion in 2014, about one-third of Iran’s total imports. While most multinationals that intend to do business with Iran are likely use Dubai as their regional hub for operations, the well-developed financial services infrastructure in the UAE is expected to boost the fund flows to and from Iran."
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