Iran Banking News

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 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.

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.

Iranian Foreign Minister Mohammad Javad Zarif said Tehran is frustrated by the slow pace of EU moves to help Iran reap the full benefits of the JCPOA after Washington’s pullout from the international deal.

Iran’s deputy oil minister says Europe’s special payment channel, known as Special Purpose Vehicle (SPV), may be set up in France to facilitate trade with Tehran.

Iran voiced defiance against returning US sanctions with the country’s top banker saying that all necessary arrangements to continue trade with partners had already been made.

Governor of Central Bank of Iran (CBI) Abdolnaser Hemmati says Iran and Europe will set up the special payment channel aimed at bypassing the US sanctions in the near future.

French lawmakers say Paris is seriously looking for ways to establish closer banking ties with Iran, helping the country reap the benefits of the Iran nuclear deal.

An Iranian reformist figure has recounted how Parliament Speaker Ali Larijani’s prudence rendered ineffective the scenarios orchestrated by radicals to prevent the ratification of the bill on Iran’s accession to the Combating the Financing of Terrorism (CFT) convention.

An Italian appeal court has rejected a lawsuit by the US that called for the seizure of $5 billion worth of Iranian assets in Italy, in a second win for Tehran in its legal battle against the US this month.

The British ambassador to Iran says the special mechanism the EU is working to create to facilitate trade with Iran can also be used by other countries, protecting Iran from efforts by the US to hamper its Asia and Europe trade.

Governor of the Central Bank of Iran Abdolnasser Hemmati says Tehran and Moscow are seeking to carry out transactions using their national currencies, gradually ditching dollar and other currencies in their trade relations.

A Turkish business official says Iran and Turkey could move to create a joint bank to facilitate economic cooperation, saying it would help the two countries achieve a $30 billion target for bilateral trade.

The governor of Iran’s Central Bank Abdolnasser Hemmati says the foreign exchange offices are now allowed to import foreign currency notes to the country.

Governor of the Central Bank of Iran (CBI) says important agreements have been reached with Russia and Turkey on oil sales and ditching the US dollar in bilateral trade.

An Iranian central bank official says the country is working to create its homegrown, seamless blockchain platform, which will enable the country to create a money transfer network involving Iran and its allies.

Iran’s Chamber of Commerce has urged the Rouhani administration to join the Financial Action Task Force (FATF), an international body which develops policies to combat money laundering.

An Iranian official has confirmed media reports that the Islamic Republic’s embassy in London has been allowed to reopen its bank account which had been closed for years due to the international sanctions.

Abdolnasser Hemmati, the newly-appointed governor of Iran’s Central Bank, unveiled a package of measures to rein in the recent turbulence in foreign currency market in Iran.

Abdol-Nasser Hemmati, a former head of Iran’s Central Insurance, has been appointed as the new governor of the Central Bank of the Islamic Republic of Iran.

Sri Lanka says it is considering a plan to settle payments to Iran for previous oil purchases by exporting tea to the country at equivalent values.

An Iranian figure says the US federal government has so far seized 500 bitcoins owned by Iranian people worth over five million dollars.

A senior Iranian lawmaker says digital currencies are among the major mechanisms which the Islamic Republic can use to evade the US sanctions, and the Parliament will soon discuss the issue.

EU lawmakers allowed the European Investment Bank (EIB) on Wednesday to do business in Iran despite the US sanctions on the Islamic Republic, keeping alive plans to save the 2015 nuclear deal with Tehran after the US withdrawal.

Governor of the Central Bank of Iran Valiollah Seif says Tehran is keen and prepared to launch a joint bank with Syria as part of its policy of expanding business ties with Damascus.