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 Central Bank Insists on Ditching Dollar in Transactions

IFP Editorial Staff -
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.
Media Wire

Iran Gets Closer to Removal of US Dollar from National Economy

IFP Media Wire -
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.
IFP Exclusive

Iranian MP Urges Use of Alternative Currencies Instead of Greenback

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

FATF Once Again Suspends Countermeasures against Iran

IFP Editorial Staff -
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.
IFP Exclusive

Bitcoin, Other Cryptocurrencies Not Recognized in Iran: Central Bank

IFP Editorial Staff -
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.
IFP Exclusive

“FATF Accession Impossible If Found to Be against Iran’s National Interests”

IFP Editorial Staff -
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.
IFP Exclusive

“Iran’s Cooperation with FATF to Increase Impact of Sanctions”

IFP Editorial Staff -
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.
IFP Exclusive

Iran’s Police Makes 90 Arrests to Control Forex Market (+Video)

IFP Editorial Staff -
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.
IFP Coverage

Iran Parliament Rejects Framework of Rouhani’s Proposed Budget

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

OECD Upgrades Iran’s Risk Rating to 5

Fatemeh Askarieh -
The Organisation for Economic Cooperation and Development (OECD) has upgraded Iran’s rating in the country risk classifications of the Participants to the Arrangement on Officially Supported Export Credits (CRE), moving it up one notch from 6 to 5.
Media Wire

Iran Arrests Suspects behind Volatility of Exchange Market

IFP Media Wire -
Police in Tehran have shut down several currency exchange shops and arrested a number of money changers suspected of being behind a recent turmoil in exchange rates.
IFP Exclusive

Unemployment Rate Down, Economic Growth Rate Up in Iran

Fatemeh Askarieh -
Mohammad Baqer Nobakht, the spokesman for the Iranian government, says the country's unemployment rate has decreased and economic growth rate has increased during the past Iranian fiscal year.
Translated by IFP

Iran’s Foreign Exchange, Gold Reserves More than US: CIA

IFP Editorial Staff -
A document released on the website of the US Central Intelligence Agency shows that the Islamic Republic outstrips the United States in terms of reserves of foreign exchange and gold.
Media Wire

Iran’s Forex Revenues Outstrip Expenses: President Rouhani

IFP Media Wire -
Iranian President Hassan Rouhani assured the nation that the country’s foreign exchange revenue far outstrips the spending, stressing that foreign exchange reserves will even grow in future.
IFP Exclusive

Iran, Italy Sign €5 Billion Investment Deal

IFP Editorial Staff -
Tehran and Rome on Thursday signed a framework credit agreement worth five billion euros whereby Italy will help its companies invest in Iran.
Media Wire

Russia’s EXIAR to Provide ‘Unlimited Funds’ for Iranian Banks

IFP Media Wire -
Iran says four of its banks have signed an agreement with the Export Insurance Agency of Russia (EXIAR) to provide “unlimited funds” for development projects to be carried out by domestic and international contractors in the Islamic Republic. 
IFP Exclusive

Iran Parliament Okays $50bn in Financing for Next Year’s Budget Bill

IFP Editorial Staff -
Iranian parliamentarians have given the go-ahead to “financing” sources of income proposed by the government in next fiscal year’s budget bill.
Media Wire

UK to Pay £400m Debt to Iran in Coming Days: Envoy

IFP Media Wire -
Iran's ambassador to Britain says an outstanding debt owed by the UK to Tehran will be transferred to the Central Bank of Iran soon, in what will mark an end to the decades-long legal dispute between the two sides.
IFP Exclusive

UAE Bank Stops Offering Services to Iranian Tradesmen

IFP Editorial Staff -
A group of Iranian tradesmen say Emirates NBD, one of the largest banking groups in the Middle East in terms of assets, has stopped offering banking services to them.
IFP Exclusive

Iranian Jewish MP Stresses Removal of US Dollar from Trade Deals

IFP Editorial Staff -
Siamak Moreh Sedgh, the representative of Iranian Jews at the Parliament, says the US dollar needs to be removed from Iran’s business transactions in a bid to put an end to the US monopoly.
IFP Exclusive

Removing US Dollar from Int’l Transactions to Facilitate Banking Ties: Iran

IFP Editorial Staff -
An Iranian lawmaker believes that the removal of the US dollar from Iran’s international transactions could facilitate banking relations.
IFP Exclusive

Iran Preparing Infrastructure for Bitcoin Adoption

IFP Editorial Staff -
Iran is preparing the infrastructure for using Bitcoin, the first worldwide crypto currency, said Iran’s Deputy Minister of Information and Communication Technology, Amir Hossein Davaee.
Media Wire

Iran, Turkey Ink Deals to Boost Scientific, Environmental Ties

IFP Media Wire -
High-ranking officials from Iran and Turkey inked two agreements in a bid to boost cooperation between the two neighboring countries in diverse fields, including science and technology as well as environment.
IFP Exclusive

Iran, Russia Clinch Deal on Financing Projects

IFP Editorial Staff -
The Central Bank of the Islamic Republic of Iran and the Russian Agency for Export Credit and Investment Insurance (EXIAR) have signed a memorandum...
IFP Exclusive

Tehran Stock Exchange Market Unaffected by Trump’s Speech

IFP Editorial Staff -
Unlike earlier estimations, Tehran Stock Exchange market has not only remained unaffected by the anti-Iran rhetoric of US President, but also has ridiculed his rhetoric by showing a significant growth in some terms.
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