Finance

A court in Germany has ordered Deutsche Telekom, a partly state-owned telecom provider, to reactivate phone and internet service for the Hamburg branch of Bank Melli Iran.

The Governor of the Central Bank of Iran Abdolnaser Hemmati says the rates of foreign currencies in the Iranian market will continue to decline in coming days.

An Iranian official says problems with Iran-China banking relations have been resolved and financial transactions will be resumed as of this weekend, when Beijing will restart its oil imports from the Islamic Republic.

France and Germany will likely host the Special Vehicle Purpose (SPV), a special payment channel created by Europe as part of its efforts to keep trade flowing with Iran in defiance of US sanctions, senior diplomats told the Wall Street Journal.

Iran’s Central Bank says a financial mechanism is being developed to replace SWIFT system for transactions with Iran, and foreign banks are gradually joining the new system, known as SEPAM, to conduct financial transactions with the Islamic Republic.

Iranian Foreign Minister Mohammad Javad Zarif said Tehran is frustrated by the slow pace of EU moves to help Iran reap the full benefits of the JCPOA after Washington’s pullout from the international deal.

Iran’s deputy oil minister says Europe’s special payment channel, known as Special Purpose Vehicle (SPV), may be set up in France to facilitate trade with Tehran.

Market figures in Iran show the prices of the US dollar and gold – two key drivers of consumer prices - have been declining over the past week in what is seen as a clear defiance against earlier predictions that sanctions could trigger a price shock in the country.

The Iranian parliament’s National Security and Foreign Policy commission has summoned Foreign Minister Mohammad Javad Zarif to clarify his controversial remarks about “rampant” money laundering in Iran, which have drawn angry reactions from political and media circles.

Iran’s top diplomat has once again argued for Tehran’s adoption of standards set by the global anti-money laundering body, saying concerns that FATF accession harms national security interests are baseless and Iran’s failure to get itself out FATF blacklist would mean Tehran has shot itself in the leg.

Iran’s legislation watchdog, the Guardian Council, has rejected a bill on Iran’s accession to the Combating the Financing of Terrorism (CFT) convention, which had been passed by the Parliament.

Managing a business’s cash flow situation is a daunting task for any business owner. Even the most profitable and financially successful companies experience cash flow issues when the executive and managerial board fails to handle the business’s investing activities, business operations, and finances efficiently.

Governor of Central Bank of Iran (CBI) Abdolnaser Hemmati says Iran and Europe will set up the special payment channel aimed at bypassing the US sanctions in the near future.

Iranian Foreign Ministry Spokesman Bahram Qassemi has welcomed the Friday decision by the Financial Action Task Force to extend suspension of counter-measures against Iran, describing it as a diplomatic achievement for Iran in the face of widespread US efforts to restore Iran’s blacklist status.

An international group that sets standards on fighting money laundering and financing of terrorism announced it once again extends the deadline for Iran to complete reforms to meet conditions for getting out of the body’s black list, despite opposition by the US and a number of its allies.

An Iranian reformist figure has recounted how Parliament Speaker Ali Larijani’s prudence rendered ineffective the scenarios orchestrated by radicals to prevent the ratification of the bill on Iran’s accession to the Combating the Financing of Terrorism (CFT) convention.

An Italian appeal court has rejected a lawsuit by the US that called for the seizure of $5 billion worth of Iranian assets in Italy, in a second win for Tehran in its legal battle against the US this month.

The British ambassador to Iran says the special mechanism the EU is working to create to facilitate trade with Iran can also be used by other countries, protecting Iran from efforts by the US to hamper its Asia and Europe trade.

The Iranian Foreign Ministry has reiterated the need for Tehran’s accession to the convention on Combating the Financing of Terrorism (CFT), saying the country’s failure to do so will provide the US with the pretext to increase its pressure on the Islamic Republic.

The spokesman for Iran’s legislative watchdog says the body will not be intimidated by opponents of Iran’s joining a UN convention against the financing of terrorism, who have in recent days been pressuring the parliament not to approve the plan.

Iranian legislators have passed a bill that gives the government the green light to join an international convention on fighting the sponsoring of terrorism.

Governor of the Central Bank of Iran Abdolnasser Hemmati says Tehran and Moscow are seeking to carry out transactions using their national currencies, gradually ditching dollar and other currencies in their trade relations.

Huge crowds of people are seen in viral photos and videos flocking to foreign currency markets on Monday night to sell their US dollars as its rate went on a downhill spiral and experienced a historic plunge of over 20 percent in a few hours.

A crowd of conservatives gathered in front of the Iranian parliament on Sunday to protest against a bill on Iran’s accession to Combating the Financing of Terrorism (CFT) convention, which is to be put to a vote in the parliament this week.

Iran’s Parliament speaker says two parliamentary bills required for Iran’s accession to the global anti-money laundering body FATF have been unanimously ratified by the Parliament after being rejected by the Guardian Council, and will soon be put to vote at the country’s Expediency Council.