Oman's central bank has signed a memorandum of understanding with the Iranian central bank to strengthen financial and economic cooperation between the two countries, the Omani institution said on Sunday. It did not give details of the cooperation, but said the agreement would boost bilateral trade and include training for Iranian central bankers. Oman has traditionally had close business and diplomatic relations with Iran, and it is hoping for Iranian investment to help it cope with economic pressure due to low oil prices. Last year an Omani sovereign wealth fund agreed to study a proposal to build an auto plant in Oman with Iranian investment. In April 2016, Bank Muscat, Oman's largest bank, said it had received all regulatory approval to open a representative office in Iran.
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