Tag Archives | Bank Melli Iran

US Court Turns Away Dispute Involving Bank Melli

The US Supreme Court Monday declined to take up Iranian government-owned Bank Melli‘s appeal of a lower court ruling that allowed victims of militant attacks allegedly backed by Iran to seek millions of dollars in compensation from the bank. The justices left in place the lower court’s ruling that allowed some plaintiffs, trying to satisfy […]

Bank Melli Iran, Aresbank of Spain to Expand Ties

By John Lee. Gholam Reza Panahi, Deputy Governor for currency affairs at Bank Melli Iran (BMI), has met with officials of Spain’s Aresbank. Pointing to the special potentials of the BMI in providing effective services to Iranian and Spanish businessmen, Panahi stressed on the development of broker relations between the two banks. Given the fact […]

Austria Signs Major Finance Deal with Iran

Austria’s Oberbank has signed a credit deal with Tehran to boost exports to Iran, the first European lender to do so since anti-Tehran sanctions were lifted following the 2015 nuclear deal between the Islamic Republic and world powers. Oberbank said the framework agreement will finance Austrian investment projects in Iran’s infrastructure, healthcare and plant construction […]

Iran to Establish Bank in Azerbaijan

The Governor of the Central Bank of Iran (CBI) Valiollah Seif said the country plans to establish a bank in Azerbaijan with 100 percent Iranian ownership, a report said. Azerbaijan’s Trend news agency in a report quoted Seif as saying that the plan involves turning a branch of Bank Melli Iran in Azerbaijan into an […]

CBI Boss to Chair Islamic Financial Services Board

By John Lee. The Council of the Islamic Financial Services Board (IFSB) has appointed Dr. Valiollah Seif, Governor of Central Bank of Iran (CBI), as its Chairman for 2017. Dr. Seif is a veteran of banking and finance, and is one of the most distinguished figures in the Iranian banking system. He has a PhD in […]

Bank Melli provides Funding for 15 Major Projects

Since the 11th government took office, Bank Melli Iran has provided facilities for 15 major economic projects in order to support production and employment in the country. The projects have been in various sectors such as industrial, petrochemical, cement, medicine, steel, food industry and so on. Among the major companies recently launched are Gohar Doroud […]

Pakistan “Fully Open to Iranian Banks”

By John Lee. The head of Pakistan’s central bank says that his country is fully open for Iranian banks to open branches. The Governor of the State Bank of Pakistan (SBP) (Central Bank of Pakistan), Ashraf Mahmood Wathra, told IRNA that Bank Melli Iran had expressed an interest in opening a branch in Pakistan, adding […]

26 Iranian Banks Now Connected to SWIFT

Four more of Iran’s banks have been reconnected to SWIFT, the global provider of secure financial messaging services. They are all the foreign branches of key Iranian banks and include the Yerevan branch of Bank Mellat, the Dushanbe branch of Tejarat Bank and the branches of Bank Melli Iran in Baku and Baghdad. Iranian media […]

Why High Inflation may Return to Iran

By Alireza Ramezani, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Top Iranian banking executives agreed Feb. 13 to cut the deposit rate of one-year rial saving accounts by two percentage points — from 20% to 18% — for the second time this Iranian calendar […]

Two Iranian Banks Reconnect to SWIFT

The Ministry of Foreign Affairs says that Bank Melli Iran was officially reconnected to the SWIFT bank transfer system on Monday. Meanwhile, Bank Sepah announced on Tuesday that it too has been reconnected to SWIFT. Bank Sepah Governor, Mohammad-Kazem Chogazardi, is quoted by PressTV as saying: “After the reconnection of the bank to the global […]

Iran, Azerbaijan Plan Joint Bank

By John Lee. Iran and Azerbaijan are in discussions to set up a joint bank to facilitate financial transactions between the two countries. Iran’s Minister of Communications and Information Technology, Mahmoud Vaezi (pictured), told Azerbaijan’s Trend News Agency that in addition to the joint bank, the countries are also in talks to open branches of […]