Finance

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%.

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

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

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

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.

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

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

Vice President for Executive Affairs Mohammad Shariatmadari said the Iranian government will offer guarantees for foreign investment, despite existing problems.

A working group in Iran is preparing a suit to look into the United States’ seizure of Iranian assets, a top Foreign Ministry official said on Sunday May 24.

Melli Bank London, Plc. has obtained an operating licence from UK banking regulators, and is ready to provide services in the European Union, said its CEO, Ghulam Hossein Asgharzadeh Zaferani, on Saturday May 28.

Hassan Baghaei, the Deputy Commercial Manager of SAIPA auto-making group, said on Saturday May 28 that the group has inked a $1bn finance deal with South Korean company SK Networks.

Iranian Foreign Minister Mohammad Javad Zarif called on the European parties to the July 2015 nuclear deal between Tehran and world powers to seriously address problems hindering foreign banks from trying to work with Iran.

In a meeting between the chairman of the Tehran Chamber of Commerce and the Minister of Energy and Economy of Nordrhein-Westfalen state, there was a focus on expanding bilateral ties and easing banking relations in order to develop trade and investment between Iran and Germany.

IFP: Economic Minister Ali Tayyebnia and Governor of the Central Bank of Iran Valiollah Seif both addressed the 26th Annual Conference on Monetary and...

Yves Rossier, the secretary of state at the Swiss Foreign Ministry, said his country is prepared to help Iran to reclaim its previous economic position at the international level following the removal of anti-Tehran sanctions.

Iran’s Pertropars Company and the global energy giant Royal Dutch Shell are in talks to boost their investment strategies in the country's growing energy sector, following the removal of anti-Tehran sanctions, an Iranian official said.