Tag Archives | banking

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 […]

Japan, Iran to Cooperate on Banking

Japan’s Financial Services Agency (FSA) has reached an agreement on banking supervision with the Central Bank of Iran (CBI). An exchange of letters between the two bodies is intended to facilitate supervision and sound functioning of banking organizations in their respective countries. Under the agreement, the authorities will provide relevant information to their counterpart regarding […]

Iran, Turkey sign MoU on Banking Coop

By John Lee. Iran and Turkey set up a joint committee on banking to help achieve trade of $30 billion by the end of 2017. The Central Bank of Iran (CBI) said the first meeting of the committee was held on Wednesday in Tehran. The two delegations discussed ways to remove obstacles to improved banking […]

UK Banks rebuff Govt push to Boost Iran Trade

By John Lee. According to a report from Reuters, the Royal Bank of Scotland (RBS) has rebuffed efforts by the British government, a major shareholder, to coax the lender into facilitating trade with Iran. Following the lifting of sanctions, and in anticipation of the UK leaving the European Union (EU), British officials have sought to […]

Danske Bank “in Talks” with CBI

By John Lee. Denmark’s Danske Bank has confirmed that it is in talks with the Central Bank of Iran (CBI) regarding arranging credit to clients with business activities in the country, but that no deal has yet been reached. A spokesperson for the bank also told Reuters that it is already supporting clients in Iran […]

German Bank initiates Business with 20 Iranian Banks

The Director of Germany’s Europaeisch-Iranische Handelsbank AG (EIH) has announced that the bank has initiated business with 20 Iranian banks and financial institutes. and the prospect for improving EU trade relations is positive. Thomas Junge told IRNA: “We have rebuilt our business relations with Iranian financial institute and cooperate with more than 20 banks. We […]

UK Working to Expand Trade Ties with Tehran

British Trade Secretary Liam Fox said London is seeking to address concerns of its banking sector about ties with Iran in an attempt to boost business ties with the Islamic Republic following the removal of anti-Tehran sanctions. “Slowly but with increasing enthusiasm, British companies are starting to do business with Iran again … We are […]

Three Foreign Banks to Open in Iran

By John Lee. Three foreign banks are reported to be opening representative offices in Iran. Peyman Ghorbani, Vice Governor of the Central Bank of Iran (CBI) told Bloomberg that Oman’s Bank Muscat SAOG, Woori Bank of South Korea, and India’s UCO Bank Ltd. are all in the process of establishing a presence in Tehran. He declined to […]

Why Iran’s Banking Shake-Up won’t be enough

By Navid Kalhor, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. On July 24, Valiollah Seif, the governor of the Central Bank of Iran (CBI), unveiled the Central Bank and Usury-Free Banking Reform Bill, also known as the Banking Reform Bill, to support sustained acceleration in […]

IMF to strengthen Banking Ties with Iran

By John Lee. The President of the International Monetary Fund (IMF), Christine Lagarde, has reportedly promised to launch consultations with US authorities to remove barriers on cooperation between international and Iranian banks. Meeting with Iran’s Economy Minister Ali Tayebnia on the sidelines of the annual World Bank summit in Washington, she pointed to the persistence […]