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 Wins another Legal Battle against US

IFP Editorial Staff -
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.
IFP Exclusive

Europe’s Banking Mechanism to Help Expand Iran Foreign Trade: UK

IFP Editorial Staff -
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.
IFP Exclusive

“Iran’s Failure to Join CFT to Give US Pretext to Boost Its Pressure”

IFP Editorial Staff -
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.
IFP Exclusive

Iran’s Guardian Council Won’t Be Intimidated by CFT Opponents

Alireza Hashemi -
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.
IFP Exclusive

Parliament Approves Iran’s CFT Accession

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

Iran, Russia to Ditch US Dollar in Bilateral Trade

IFP Editorial Staff -
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.
IFP Exclusive

Iranians Selling Their Greenbacks Overnight as Rial Regains Lost Value

IFP Editorial Staff -
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.
IFP Exclusive

Protest Rally Held before Iran Parliament against FATF-Related Bill

IFP Editorial Staff -
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.
IFP Exclusive

Iran Parliament Passes FATF Bills; Expediency Council to Make Final Call

IFP Editorial Staff -
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.
IFP Exclusive

Foreign Ministry Explains Why Iran Needs to Adopt FATF Standards

IFP Editorial Staff -
The Iranian Foreign Ministry has released a statement to answer a number of frequently asked questions and concerns regarding the Islamic Republic of Iran’s engagement with the Financial Action Task Force (FATF).
IFP Exclusive

Turkey Calls for Establishment of Joint Bank with Iran

IFP Editorial Staff -
A Turkish business official says Iran and Turkey could move to create a joint bank to facilitate economic cooperation, saying it would help the two countries achieve a $30 billion target for bilateral trade.
IFP Exclusive

Iran Says Two US Departments Manipulating Its Currency Market

IFP Editorial Staff -
A report by the Iranian government says the US state and treasury departments, along with the country’s intelligence bodies, have started concerted efforts to manipulate Iran’s currency market.
IFP Exclusive

Forex Offices Allowed to Import Foreign Currencies to Iran

IFP Editorial Staff -
The governor of Iran’s Central Bank Abdolnasser Hemmati says the foreign exchange offices are now allowed to import foreign currency notes to the country.
IFP Exclusive

Iranian MPs to Review Bill on Iran’s CFT Accession

IFP Editorial Staff -
The Iranian parliament is to review a bill on Iran’s accession to Combating the Financing of Terrorism (CFT), which was earlier proposed by the government as part of measures to adopt the standards set by the Financial Action Task Force (FTAF).
Economy

Tehran, Moscow, Ankara Agree to Ditch US Dollar in Trade

IFP Editorial Staff -
Governor of the Central Bank of Iran (CBI) says important agreements have been reached with Russia and Turkey on oil sales and ditching the US dollar in bilateral trade.
IFP Exclusive

Iran Developing National Blockchain Platform

IFP Editorial Staff -
An Iranian central bank official says the country is working to create its homegrown, seamless blockchain platform, which will enable the country to create a money transfer network involving Iran and its allies.
IFP Exclusive

Iran Chamber of Commerce Says Tehran Must Join FATF

IFP Editorial Staff -
Iran’s Chamber of Commerce has urged the Rouhani administration to join the Financial Action Task Force (FATF), an international body which develops policies to combat money laundering.
IFP Exclusive

Iran Legislation Watchdog Ratifies Parliamentary Amendment to CTF Law

IFP Editorial Staff -
The spokesman for Iran’s Guardian Council says the body has ratified a legislation amending a law on Counter Terrorist Financing (CTF).
IFP Exclusive

Bank Account of Iranian Embassy in London Reopened

IFP Editorial Staff -
An Iranian official has confirmed media reports that the Islamic Republic’s embassy in London has been allowed to reopen its bank account which had been closed for years due to the international sanctions.
IFP Exclusive

Hemmati Appointed New Governor of Iran’s Central Bank

IFP Editorial Staff -
Abdol-Nasser Hemmati, a former head of Iran’s Central Insurance, has been appointed as the new governor of the Central Bank of the Islamic Republic of Iran.
Media Wire

Sri Lanka Ready to Pay Its Oil Debts to Iran with Tea

IFP Media Wire -
Sri Lanka says it is considering a plan to settle payments to Iran for previous oil purchases by exporting tea to the country at equivalent values.
IFP Exclusive

“EU Allocates $80 Billion Credit to Cooperation with Iranian Firms”

IFP Editorial Staff -
Vice-President of the Iranian Chamber of Commerce says the EU has allocated a huge amount of credit to facilitating trade between Iranian and European small and medium-sized enterprises.
IFP Exclusive

US Confiscates Millions of Dollars of Iranian Bitcoins

IFP Editorial Staff -
An Iranian figure says the US federal government has so far seized 500 bitcoins owned by Iranian people worth over five million dollars.
IFP Exclusive

Iran Mulling over Use of Crypto-Currencies to Evade US Sanctions

IFP Editorial Staff -
A senior Iranian lawmaker says digital currencies are among the major mechanisms which the Islamic Republic can use to evade the US sanctions, and the Parliament will soon discuss the issue.
IFP Exclusive

‘Sultan of Gold Coins’ Arrested in Tehran

IFP Editorial Staff -
Iranian police forces have arrested a man who had hoarded about two tonnes of gold coins over a period of 10 months.
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