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.

Economy

Iran’s Cabinet Readying Bill on Big Change in Banking Sector

IFP Media Wire -
The Iranian administration has worked out a proposal that, if passed by the Parliament, will usher in a major development in the country’s banking sector, President Hassan Rouhani announced.
Media Wire

Deputy Industry Minister: Economy Needs $800bn Investment

IFP Media Wire -
Iran’s Deputy Industry Minister said the country requires $8bn of investment in order to reach the goal of 8% economic growth.
Media Wire

Sanctions on Bank Melli in Hong Kong Lifted

IFP Media Wire -
Deputy Governor for Currency Affairs at the Bank Melli of Iran (BMI) announced that sanctions on BMI Hong Kong Branch had been lifted since June 24 and the branch will soon resume its activities there.
IFP Exclusive

Government Permits Private Sector to Issue Participation Bonds

IFP Editorial Staff -
President Hassan Rouhani said that issuing participation bonds by large private companies is a realizable goal, and promised to expedite the required arrangements.
Media Wire

Chabahar Port: Indian Firms to Invest $235m

IFP Media Wire -
The Managing Director of the Ports and Maritime Organization said that the capacity of Chabahar port will increase from 2 million tons to 8 million tons after an investment of $235m from Indian firms.
Local

Leader Calls for Government’s Serious Action against Payment of Astronomical Salaries

IFP Editorial Staff -
Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei referred to the extremely large incomes paid to certain government employees, and described it as an attack on values, which should be seriously pursued by the government.
Media Wire

German Official: Iran’s Debt Clearance Opens Path for Future Activity

IFP Media Wire -
By paying off the export debt to Germany, Iran will open new paths to renewed trade ties between the two countries, said the German Economy Minister on Monday June 20, Bloomberg reported.
Media Wire

Foreigners Want to Invest in Iran: Rafsanjani

IFP Media Wire -
Expediency Council Chairman Ayatollah Akbar Hashemi Rafsanjani underlined the positive effects that the Joint Comprehensive Plan of Action (JCPOA) has had on attracting foreign investment to the country.
Economy

Inflation Rate in Iran Down to Less than 10%

IFP Editorial Staff -
Spokesman for the Iranian Administration Mohammad Baqer Nobakht announced on Tuesday, June 21, that the country’s annual inflation rate has fallen below 10% for the first time in several years.
Media Wire

Lending Rate Cuts Imminent

IFP Media Wire -
Banks will lower lending rates in the coming days, said Central Bank of Iran governor, Valiollah Seif on Sunday June 19. The announcement comes after private lenders’ recent move to voluntarily lower their one-year deposit rates from 18% to 15%.
Europe

Iran Settles €500m Debt to Germany’s Hermes Firm: Envoy

IFP Media Wire -
Iranian Ambassador to Berlin Ali Majedi said the Islamic Republic has cleared its debt to Germany’s Hermes insurance company.
Media Wire

Iran-EU Banking Issues Resolved in Mining Sector

IFP Media Wire -
The Deputy Industry Minister announced that Iran’s banking issues with European countries have been fully resolved in terms of financing Iranian mining projects.
Media Wire

$2.5bn Foreign Direct Investment in Iran in Last Month

IFP Media Wire -
An official said foreigners have made $2.5 billion of Foreign Direct Investment (FDI) in Iran in the current Iranian month (started May 21).
Media Wire

Iran MPs Consider Suing Canada Over Asset Seizure

IFP Media Wire -
A parliamentary panel in Iran is examining Canada's appropriation of Iranian assets for the possible launch of a lawsuit against the seizure, an MP says.
Media Wire

US Must Do More on Nuclear Deal: Iran

IFP Media Wire -
Iran says the US must do more to encourage banks into doing business with the Islamic Republic following the lifting of sanctions.
Economy

Over $1.5bn Earmarked for Non-Oil Exports and Development Projects

IFP Media Wire -
Iran allocated IRR55 trillion (about $1.586 billion) to promote non-oil exports and implement development projects, ISNA reported on Sunday June 12.
Media Wire

Agreements Worth Over $35bn Reached Between Iran and Foreign Banks

IFP Media Wire -
A senior Iranian official said on Sunday June 12 that so far several agreements, worth $35 billion, have been reached between Iran and large global banks.
Selected

Rouhani Orders First VP to Pursue Issue of Astronomical Salaries

IFP Editorial Staff -
Within the past few weeks, a number of paycheques belonging to senior executives have been leaked, revealing their astronomical salaries. The figures provoked uproar among Iranian media and public opinion, and finally drew President Hassan Rouhani's reaction.
Media Wire

Azerbaijan to Give Iran Loan for Railroad Project

IFP Media Wire -
An Iranian deputy minister unveiled plans for getting a $500m loan from the Republic of Azerbaijan to construct a railroad in the northern part of the country that will later be connected to Azerbaijan’s railroad network.
Media Wire

Banks Ordered to Allocate 10% of Loans to SMEs

IFP Media Wire -
The Central Bank of Iran has ordered banks and credit institutions to allocate a minimum of 10% of their loans to small and medium-sized businesses in a move to help create jobs and boost the beleaguered production sector.
Economy

Iran Bank Joins Euro Payment System

IFP Media Wire -
Iran says one of its London-based banks has joined the euro payment system, in what could be another breakthrough for the country to remove technical hurdles created as a result of multiple years of sanctions.
Finance

Iran to Set Up Offshore Bank in Kish Island: Report

IFP Media Wire -
Iran plans to open an offshore bank in the southern island of Kish “within a month” in a bid to facilitate its trade transactions and process international payments, a report said.
Economy

Economic Official: First Stage of JCPOA Successful

Golrokh Askarieh -
A Member from Iran’s Chamber of Commerce said on Sunday May 5 that the Joint Comprehensive Plan of Action (JCPOA) has been successful in its first stage so far.
Americas

Zarif Urges US to Remove ‘Psychological Banking Barrier’ in Trade with Iran

Golrokh Askarieh -
Iranian Foreign Minister Mohammad Javad Zarif said there is a “psychological barrier” in trade with Iran, stressing that Washington should give international banks reassurances that they can resume business with the Islamic Republic.
Americas

Security Official Stresses Iran’s Litigation against US Asset Seizure

Golrokh Askarieh -
Secretary of Iran's National Security Council (SNSC) Ali Shamkhani announced that Tehran will certainly lodge complaints with international courts contesting the US Supreme Court ruling which authorized the transfer of $2bn of Tehran's frozen assets to the families of the victims of a 1983 bombing in Beirut.
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