Finance

EU Parliament Allows European Investment Bank to Work with Iran

EU lawmakers allowed the European Investment Bank (EIB) on Wednesday to do business in Iran despite the US sanctions on the Islamic Republic, keeping alive plans to save the 2015 nuclear deal with Tehran after the US withdrawal.

FATF Extends Suspension of Counter-Measures against Iran until October

The Financial Action Task Force says it has decided to continue the suspension of its counter-measures against Iran, but Tehran needs to enact amendments to its AML and CFT laws and ratify the Palermo and TF Conventions by October.

Iranian MPs Push for Cabinet Reshuffle amid Devaluation of National Currency

A huge number of parliamentarians sent an open letter to President Hassan Rouhani calling on him to immediately reshuffle his Cabinet to control a dramatic decline in the value of rial that has depressed markets in recent days.  

Iranian Minister Urges FIFA to Pay Its Frozen Money

Iran’s Minister of Sports and Youth Affairs Massoud Soltanifar has called on the Federation Internationale de Football Association (FIFA) to release the Islamic Republic’s frozen money as soon as possible.

Iran President Issues Orders to Push Down Soaring Prices

Iran’s President Hassan Rouhani has ordered relevant organizations to adopt appropriate measures to push down the soaring prices of goods in the country.

IRGC’s Construction Base Ready to Work with Foreign Investors

The commander of Khatam al-Anbia Construction Base says the IRGC-affiliated conglomerate is prepared to work with foreign investors who are willing to fund Iranian construction projects.

Iran, China to Use National Currencies in Trade Transactions

The Iranian minister of finance and economic affairs says Iran and China have agreed to use the national currencies of both countries in their trade transactions.

Araqchi Assures MPs that Joining FATF Won’t Pose Security Threat to Iran

Iranian Deputy Foreign Minister for Political Affairs Seyed Abbas Araqchi said the country’s membership in the Financial Action Task Force (FATF), the policy-making body of the international financial system, would not pose any security threat to the Islamic Republic.

“New US Sanctions on Iran Threat to Petrodollar”

US President Trump’s decision to pull the US out of the Iran nuclear deal has reinstated a number of sanctions that have put the petrodollar under threat.

Signing LC Deal to Help Expand Iran-Italy Relations: Rouhani

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.

“US Sanctions on Iran’s Bank Chief Break Int’l Rules”

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 to Open Channel to Facilitate Iran Banking Transactions: Official

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.

Iran Limits Foreign Currency Allocated to Those Travelling Abroad

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.

US Exit from JCPOA Not to Cause Any Problem for Iran Economy: Central Bank

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.

Iran, Turkey to Integrate Bank Cards

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 Develops Its Own Digital Currency

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 to Use Qatar, Instead of UAE, as Its Hawala Trade Hub

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.

Why Are Citizen Investment Programs Valuable?

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.

Unification of Forex Rates Pre-Emptive Response to US Plot: Iran

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.

Iran Officially Replaces US Dollar with Euro in Int’l Transactions

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, Uruguay Discuss Expansion of Banking, Agricultural Ties

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.

Iran Leader Hails Idea of Replacing Dollar with Euro in Int’l Transactions

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.

12 Arrested in Tehran over Illegal Currency Exchange

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 Gov’t Steps in to Control Forex Market

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.

US Using Dollar as Economic Weapon against Other Countries: Iran

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.

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