Finance

Latest Financial News in Iran – News and opinion on the banking and finance sectors domestically and abroad. It includes national-level policy-making, the Central Bank of Iran, the stock exchange, as well as private actors in the field.

IFP Exclusive

Iran Says FATF Ratification Depends on Trump’s Behaviour

IFP Editorial Staff -
Ahmad Tavakoli, a member of Iran’s Expediency Council, says the country’s ratification of the bills required for taking Iran out of the FATF blacklist depends on the US president’s behaviours, and thus the Council has postponed reviewing the bills until a ripe time.
Media Wire

FATF Extends Iran’s Deadline until October

IFP Media Wire -
The Financial Action Task Force (FATF) said Iran had until October to meet international standards against money-laundering and terror financing.
Media Wire

Chinese Bank ‘Kunlun’ Starts Work in Iran

IFP Media Wire -
Vice Chairman of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Pedram Soltani on Thursday revealed the start of activity of China’s Bank of Kunlun in the Islamic Republic of Iran.
IFP Exclusive

Iran Exempts Travel Agencies from VAT to Promote Tourism

IFP Editorial Staff -
Travel agencies taking tours to Iran have been exempted from paying Value-Added Tax (VAT) upon the order of First Vice President Es’haq Jahangiri in a bid to increase the number of foreign tourists visiting the country.
IFP Exclusive

Is Iran Planning to Recognize Bitcoin?

IFP Editorial Staff -
The unveiling of a new system during the recent International Exchange, Bank and Insurance Fair (IRAN FINEX) in Tehran has aroused speculations that Iran might be planning to legalize Bitcoin as a legal currency in a bid to survive the new round of US bans.
IFP Exclusive

Brazil Says Ready to Help Iran in Face of US Sanctions

IFP Editorial Staff -
The Brazilian ambassador to Iran says the US’ anti-Iran sanctions are cowardly and, if necessary, Tehran can count on Brazil in this regard.
IFP Exclusive

Iran’s SATMA, EU’s INSTEX to Do First Transaction Soon

IFP Editorial Staff -
Iran’s special financial channel for trade with European countries under the US sanctions known as SATMA, and its European counterpart INSTEX are ready to do their first transaction in coordination with banks of the two sides.
Media Wire

Enemies Plotting to Disrupt Iran’s Forex Market, Chief Banker Warns

IFP Media Wire -
Governor of the Central Bank of Iran (CBI) Abdonnaser Hemmati said enemies have hatched secret plots to hit the country’s foreign exchange market, calling for more efforts to foil the conspiracies.
IFP Coverage

Impact of Mobile Trading Technology on Forex Traders

IFP Media Wire -
As trading platforms such as MT4 webtrader surfaced in the early 2000s, forex trading has taken a whole new turn. There have been significant changes to the forex sector all that has been attributed to advancements in technology and particularly in mobile trading technology.
Finance

Financial Advice for Early Stage Startups

IFP Media Wire -
Having a great business idea and actually turning the concept you have worked hard on into reality will certainly open new opportunities for you, and bring you the professional fulfillment you might have been seeking. Despite all the excitement involved, and the chance you are getting to be part of the business world, you also need to be prepared for the various challenges that you will encounter.
Media Wire

Iran Says to Launch Mechanism Proportionate to INSTEX

IFP Media Wire -
Governor of Central Bank of Iran (CBI) Abdolnasser Hemmati announced late on Friday that the mechanism proportionate to the channel introduced by the three European states will soon be registered in Tehran.
IFP Exclusive

INSTEX Director in Tehran for Talks on Iran-EU Trade

Emad Askarieh -
The head of Europe's Instrument in Support of Trade Exchanges (INSTEX) with Iran is in Tehran to discuss how to put the special mechanism into force.
IFP Exclusive

‘Iran’s Trade with World to Get More Difficult without FATF’

IFP Editorial Staff -
Iranian Foreign Ministry Spokesman Bahram Qassemi says adoption of the standards set by the Financial Action Task Force (FATF) is not expected to remove all economic problems of Iran but failing to adopt them will hamper the country’s trade exchange with the outside world.
IFP Exclusive

FATF Accession Key to Surviving US Sanctions: Iran

IFP Editorial Staff -
If the Islamic Republic is to continue its trade exchanges with the outside world amid the harsh sanctions imposed on the country, it needs some specific work tools, one of which is the Financial Action Task Force (FATF), says Hossein Gharibi, an assistant to Iran’s foreign minister.
IFP Exclusive

Guardian Council Says Not Worried about Plebiscite on FATF Accession

IFP Editorial Staff -
Iran's Guardian Council Spokesman Abbas Kadkhodaei says the council is not afraid of any referendum on Iran’s adoption of Palermo Convention and the Convention against Financing of Terrorism (CFT).
IFP Exclusive

‘EU Seeks to Gain More Concessions from Iran via INSTEX’

IFP Editorial Staff -
There are indications that Europe does not really intend to ease the pressure of Washington’s sanctions on Iran despite establishing a special purpose vehicle named INSTEX, a conservative Iranian daily has argued.
IFP Exclusive

Iran Says FATF Extended Its Deadline to Avoid ‘Deadlock’

IFP Editorial Staff -
Iran’s nuclear chief says the Financial Action Task Force’s extension of its anti-Iran measures shows the global anti-money laundering body doesn’t want to create a “deadlock” in its relations with Iran.
IFP Exclusive

FATF Extends Iran’s Deadline by June

IFP Editorial Staff -
The global anti-money laundering body, the Financial Action Task Force (FATF), on Friday gave Iran until June to come into compliance with anti-terror financial measures or said it will face tougher financial oversight.
IFP Exclusive

Rouhani Gov’t Denies Rumours It’s Behind Currency Hikes

IFP Editorial Staff -
The Iranian president's chief of staff has rejected rumours that this week’s hike in the value of foreign currencies in Iranian markets was planned by the government as part of efforts to meet FATF guidelines, saying the government would not “play games” with people’s livelihood.
IFP Exclusive

INSTEX Implementation Not Possible without FATF: Germany

IFP Editorial Staff -
The German ambassador to Tehran has denied the allegation that the European Union has set conditions for implementing its special purpose vehicle for trade with Iran, but at the same time noted that European banks would not work with Tehran if the country fails to adopt the FATF standards.
IFP Exclusive

Iran Expediency Council Postpones Voting on Palermo Bill

IFP Editorial Staff -
Iran’s Expediency Council was once failed to reach a consensus over a parliamentary bill on Iran’s accession to the United Nations Convention against Transnational Organized Crime, as members have postponed voting on the FATF-related bill.
IFP Exclusive

Iran Turns Dream into Reality by Unveiling Its Own Cryptocurrency

IFP Media Wire -
They say every dream begins with a dreamer. But dreams cannot be realized through miracles and magic. They take hard work, determination, and lots of sweat. This is the current state of Iran. What started as a dream in the summer of 2018 seems to have become a reality as the country just unveiled a state-backed cryptocurrency.
IFP Exclusive

EU’s INSTEX Not to Affect Iran’s FATF Approach, Officials Say

Alireza Hashemi -
Last week’s announcement by European powers that they are to launch a financial mechanism for Iran-EU trade would not affect Iran’s approach on joining the Financial Action Task Force (FATF), two Iranian officials said.
IFP Exclusive

EU Announces Special Mechanism for Trade with Iran

IFP Editorial Staff -
The European Union has announced a long overdue special mechanism, called INSTEX (Instrument for Supporting Trade Exchanges), aimed at facilitating trade with the Islamic Republic of Iran in the face of the US sanctions.
IFP Exclusive

‘EU Could Show Good Faith by Running Bank to Keep Ties with Iran’

IFP Editorial Staff -
An Iranian lawmaker says the EU decision to launch a special financial mechanism to keep trade ties with Iran despite US sanctions was not made in a good-faith gesture.
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