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The latest news and views about Iran’s banking relations with other countries

‘Anti-Iran Summit in Poland Shows US Frustration with Previous Plots’

The governor of Iran’s Central Bank says the US’ plan to organize an anti-Iran conference in Warsaw signals Washington’s frustration with its previous anti-Iran plots.

CBI Offers to Lop Four Zeroes Off National Currency

The governor of the Central Bank of Iran says the body has submitted a proposal to the government to remove four zeroes from the national currency, reviving a shelved plan to keep up with rampant inflation.

Is CBI Preparing to Lop Four Zeroes Off National Currency?

A new banknote unveiled by Iran’s CBI on Tuesday has fueled rumours the government is preparing to remove four zeros from the Iranian currency, rial.

‘Europeans to Launch Iran Payment Channel by Year-End’

Head of the Atomic Energy Organization of Iran says Tehran hopes the Europeans would establish the Special Purpose Vehicle (SPV), the mechanism aimed at bypassing the US bans on Iran, by the end of December.

Iran’s Red Crescent Opens Company in Switzerland for Medicine Imports

The Iranian Red Crescent Society says it has established a company in Switzerland to transfer pharmaceuticals to Iran more easily in the wake of the US sanctions.

Court in Hamburg Rules in Favour of Bank Melli Iran

A court in Germany has ordered Deutsche Telekom, a partly state-owned telecom provider, to reactivate phone and internet service for the Hamburg branch of Bank Melli Iran.

Forex Rates to Keep Going Down in Coming Days: Iran

The Governor of the Central Bank of Iran Abdolnaser Hemmati says the rates of foreign currencies in the Iranian market will continue to decline in coming days.

‘Iran, China to Resume Banking Ties in Coming Days’

An Iranian official says problems with Iran-China banking relations have been resolved and financial transactions will be resumed as of this weekend, when Beijing will restart its oil imports from the Islamic Republic.

‘France, Germany Step in to Bypass US Bans by Hosting SPV’

France and Germany will likely host the Special Vehicle Purpose (SPV), a special payment channel created by Europe as part of its efforts to keep trade flowing with Iran in defiance of US sanctions, senior diplomats told the Wall Street Journal.

‘Foreign Banks Being Connected to Iranian Alternative to SWIFT’

Iran’s Central Bank says a financial mechanism is being developed to replace SWIFT system for transactions with Iran, and foreign banks are gradually joining the new system, known as SEPAM, to conduct financial transactions with the Islamic Republic.

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