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.

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.
Economy

VP Says Iran Will Guarantee Foreign Investments

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

Iran Task Force to Follow Up on Frozen Assets: Araqchi

Fatemeh Askarieh -
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.
Europe

London Branch of Melli Bank Reopens

Fatemeh Askarieh -
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.
Asia

SAIPA Signs $1bn Finance Deal with South Koran Company

Fatemeh Askarieh -
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.
Europe

Zarif Calls for ‘Tangible’ European Steps to Facilitate Banking Transactions

Fatemeh Askarieh -
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.
Economy

Germans in Search of Business Opportunities in Iran

Golrokh Askarieh -
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.
Economy

Tayyebnia and Seif Positive about Growth Rates and Inflation

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

Switzerland Ready to Assist Iran in Post-Sanctions Era

Golrokh Askarieh -
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.
Energy

Iran’s Petropars in Investment Talks with Royal Dutch Shell: Official

Emad Askarieh -
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.
Europe

Iran, Bosnia agree to expand banking cooperation

Emad Askarieh -
Iranian Ambassador to Bosnia-Herzegovina Seyyed Hossein Rajabi and the Head of the Central Bank of Bosnia discussed expanding bilateral banking relations.
Economy

No More Barrier to Trade with Iran in Euros: Diplomat

Emad Askarieh -
A ranking Iranian diplomat said there are no more limits on the country’s financial transactions with foreign banks in euros, a clear sign of which was India’s recent move to clear part of its debts to Iran in euros through a Turkish bank.
Finance

Global Banks Need Immunity from Allegations of Sanctions Breaches: CBI Chief

Golrokh Askarieh -
The governor of the Central Bank of Iran (CBI) said the global banks need “reassurances” that they will not be accused of breaching sanctions if they rekindle ties with the Islamic Republic despite a lasting nuclear deal between Tehran and world powers.
Economy

CBI Chief: Europe, US Failed to Meet Commitments on JCPOA

Emad Askarieh -
Central Bank of Iran (CBI) Chief Valiollah Seif censured certain Western countries, the US in particular, for failing to meet their commitments under a nuclear deal between Tehran and six world powers (also known as the JCPOA).
Europe

Any Request for Banking Guarantees in Ties with Europe Is Nonsense: Official

IFP Editorial Staff -
A senior Iranian official has dismissed a recent report that European banks had asked Iran to provide guarantees to compensate for possible future penalties imposed by the US for resuming banking activities with Iran. Text from IRNA, translated by IFP.
Europe

Javan: European Banks Demand $15bn from Iran

IFP Editorial Staff -
On Friday May 13, US Secretary of State John Kerry met with heads of 10 European banks. According to a report by Javan newspaper,...
Americas

Workgroup Recommends SNSC ‘Address US Seizure of CBI Assets’

Emad Askarieh -
The government’s Special Workgroup on the US Seizure of Central Bank Assets has drafted a report of the developments on the US encroachments on the Central Bank assets.
Finance

JCPOA Should Help Implementation of “Resistance Economy”

Golrokh Askarieh -
Iran’s Hassan Rouhani has urged that the opportunities provided by the JCPOA be taken advantage of to improve interaction with the world and the implementation of “Resistance Economy.”
Economy

Pasargad wants to become ‘global bank’

Golrokh Askarieh -
Pasargad Financial Group, which owns Iran's second largest bank, is considering selling its shares in energy entities in a sign of improving business environment.
Asia

Iran and China Discuss Cooperation on Fighting Corruption

Golrokh Askarieh -
In a meeting in Beijing on Wednesday May 11, the Head of Iran's General Inspectorate Organization, Nasser Seraj, and China's Public Prosecutor Cao Jianming, discussed broadening relations, especially a campaign against financial corruption.
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