Finance

‘Anti-Iran Summit in Poland Shows US Frustration with Previous Plots’

The governor of Iran’s Central Bank says the US’ plan to organize an anti-Iran conference in Warsaw signals Washington’s frustration with its previous anti-Iran plots.

Iran Warns Europe Time for Saving JCPOA Coming to End

The spokesman for Iran’s Foreign Ministry has cautioned the European Union it should be quick to take measures to salvage the 2015 nuclear deal, since Iran is running out of patience with Europeans due to their failure to fulfill pledges to compensate for the US withdrawal.

Is CBI Preparing to Lop Four Zeroes Off National Currency?

A new banknote unveiled by Iran’s CBI on Tuesday has fueled rumours the government is preparing to remove four zeros from the Iranian currency, rial.

Iran Must Accelerate FATF Accession amid Israel Inclusion

Israel’s accession to the global anti-money laundering makes it more difficult for Iran to join the Financial Action Task Force, an Iranian media outlet said, arguing for quicker approval of parliamentary legislations required for Iran getting out of the body’s black list.

IOSCO Promotes Iran’s Membership Status

The International Organization of Securities Commissions has promoted the membership status of Iran’s Securities and Exchange Organization.

Iranian Rial Regains Lost Value as Forex Market Returns to Stability

The Iranian rial continued its upward spiral on Saturday, pushing more and more of ordinary people to sell the US dollars they had purchased to prevent their money from losing its value.

Iran to Miss Opportunities If It Fails to Adopt FATF: Rouhani

Iranian president says without adoption of the standards set by the Financial Action Task Force (FATF) and cooperation with foreign banks, chances will be lost and it will be 20% more costly to resolve the country’s economic problems.

Rouhani’s Gov’t Unveils Next Fiscal Year’s Budget Bill

Mohammad Baqer Nobakht, head of Iran’s Budget and Planning Organization, says the budget bill for the next Iranian calendar year that begins on 21 March 2019 has been submitted to the Parliament.

Iranian MPs Pass Amendment to CFT Bill

Iranian lawmakers have approved an amendment to a bill on Iran’s accession to the Combating the Financing of Terrorism (CFT) convention, which was earlier rejected by the Guardian Council.

Court in Hamburg Rules in Favour of Bank Melli Iran

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.

Forex Rates to Keep Going Down in Coming Days: 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.

‘Iran, China to Resume Banking Ties 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, Germany Step in to Bypass US Bans by Hosting SPV’

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.

‘Foreign Banks Being Connected to Iranian Alternative to SWIFT’

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.

Iran Says Frustrated by EU’s Slow Pace in Implementing SPV

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.

‘France May Host Europe-Iran Payment Channel’

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.

Gold, Forex Rates Decrease in Iran despite US Sanctions

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.

Zarif Summoned to Parliament for Money Laundering Remarks

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.

Zarif Rejects Concerns, Defends Iran Getting Out of FATF Blacklist

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 Legislation Watchdog Rejects CFT Bill, Returns It to Parliament

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.

Five Tips to Reduce a Business’s Cash Flow Issues

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.

Iran-EU Payment Channel to Be Set Up Soon: Chief Banker

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.

Iran Lauds FATF’s Deadline Extension as Diplomatic Victory

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.

FATF Extends Iran’s Deadline despite US Opposition

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.

CFT Bill Ratified by Parliament Thanks to Larijani’s Prudence: Reformist

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.

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