Finance

Iran’s President Hassan Rouhani says a line of credit agreement between Tehran and Rome can pave the way for operationalisation of documents earlier signed between the two countries.

Iran’s foreign ministry has condemned the US sanctions against the Iranian bank chief, saying that the government and Central Bank of Iran reserve the right to adopt all legal and political solutions to counter the US Treasury Department’s move.

Europe is seeking to open up a banking channel to allow conduction of transactions with Iran, as part of measures to protect European companies doing business in Iran against Washington’s move to re-impose anti-Tehran sanctions, an Iranian official said.

As part of its plans to control the ongoing crisis in the country’s forex market, the Iranian government has restricted the amount of foreign currency allocated to Iranian tourists travelling abroad.

The central bank of Iran dismissed concerns about the negative consequences of the US withdrawal from the 2015 nuclear deal, saying it has already devised plans to prevent any harm to the country’s banking system and to satisfy demands for hard currency.

Following a national currency swap deal that was recently implemented, Iran and Turkey are now pursuing the integration of bank cards in a move aimed at helping the massive flow of tourists traveling between the two nations.

Iran says an experimental model of an Iranian cryptocurrency has been developed based on the block-chain technology, and can significantly facilitate financial transactions in the country when created.

Iran will use Qatar to facilitate payment orders in foreign currencies, phasing out such operations in Dubai where restrictions imposed by the UAE government are making financial transactions difficult.

Citizen Investment Programs have turned into a popular option for people across the world, especially for business travellers who don’t have to wait for weeks or months for the visa to be approved.

Iranian President Hassan Rouhani has defended his government’s plan to unify official and free market exchange rates for the Iranian currency rial against the US dollar, saying it foiled a plot hatched by Washington to foment economic instability in Iran.

The Iranian government has decided to replace the US dollar with euro in its international transactions in a move to prevent the greenback’s fluctuations from negatively affecting the Iranian economy.

Iran’s Foreign Minister Mohammad Javad Zarif and Uruguayan President Tabaré Vázquez have called for expansion of collaborations in various fields, particularly banking and agriculture.

The Governor of Iran’s Central Bank Valiollah Seif says the government eyes replacing the US dollar with the euro in its international transactions and the idea has been welcomed by the Leader Ayatollah Khamenei.

Tehran’s police chief says 12 unlicensed dealers accused of disrupting Iran’s currency market have been arrested on Tuesday, as part of measures to stabilise the rial that has been going down in recent weeks.

Iran's First Vice President Eshaq Jahangiri has announced that his country will unify official and open market exchange rates following the Rial's recent drop against the dollar.

A senior Iranian security official says Washington has formally announced that it is using the greenback as an economic tool to impose its will on other countries.

Governor of the Central Bank of Iran Valiollah Seif has written a letter to the Iranian minister of trade and industry to reiterate his earlier calls for removing the US dollar from all business transaction.

Iran moved a step closer to a plan to ditch the dollar in its trade activities by announcing that purchase orders by merchants that are based on the greenback would no longer be allowed to go through import proceedings.

An Iranian parliamentarian says using alternative foreign currencies in international financial transactions will ease psychological pressure on the dollar market.

The Financial Action Task Force, an international anti-money laundering body, has once again delayed some penalties against Iran, but kept the Islamic Republic in its black list and threatened action in June.

The Central Bank of Iran says it has never recognized bitcoin and other cryptocurrencies as official currency within the boundaries of the Islamic Republic and conducts no transactions in them.

An Iranian lawmaker says the Parliament will not approve the country’s accession to the Financial Action Task Force (FATF) if it proves to be against the Islamic Republic’s interests.

The conservative newspaper Kayhan has harshly criticized the Iranian government’s plan to implement the regulations of the Financial Action Task Force (FATF), saying such cooperation would just make more effective the US sanctions on Iran.

Ten exchange facilities have been closed down and 90 foreign currency dealers arrested in a police raid in Tehran aimed at controlling the surging forex rates mainly caused by non-economic factors.

The Iranian Parliament on Sunday disapproved the framework of the budget proposed by the Rouhani administration for the upcoming fiscal year (March 2018-19).