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 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.
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.
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.
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 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 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.
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.
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.
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.