Tag Archives | Central Bank of Iran (CBI)

Iranian, Turkish Central Banks Ink Currency Swap Deal

Governor of the Central Bank of Iran (CBI) Valiollah Seif and his Turkish counterpart, Murat Cetinkaya, signed an agreement, according to which the two countries can conduct trade transactions through using their national currencies. During a meeting between visiting Iranian First Vice-President Eshaq Jahangiri and Turkish Prime Minister Binali Yildirim in Ankara, Seif and Cetinkaya signed […]

Iran, Turkey to Finalize Currency Swap Deal

The Governor of the Central Bank of Iran (CBI) Valiollah Seif, who is on an official visit to neighboring Turkey, said the two countries plan to finalize their trade exchanges based on currency swap. In remarks released on Tuesday, Seif referred to efforts to realize the goal of $30 billion of annual bilateral trade between […]

Iran, Turkey sign 4 Cooperation Pacts

Iran and Turkey have signed four Memorandums of Understanding (MoUs) to deepen relations between the two countries: between the Iranian Ministry of Economic Affairs and Finance and the Turkish Ministry of Customs and Trade; between the Central Bank of Iran (CBI) and the Turkish Central Bank; between the National Library of Iran and the Turkish […]

Iran Signs €500m Deal with Danske Bank

By John Lee. Danske Bank has signed a €500-million finance deal with a group of Iranian banks. Under the agreement, the Danish bank will allocate resources to finance construction and production projects of the private and public sector in Iran. The Iranian banks involved include: Bank Mellat, Bank Pasargad, Bank Sepah, Parsian Bank, Saman Bank, […]

Iran, China Ink $10bn Finance Deal

The CITIC Trust, a major Chinese investment company, signed an agreement with five Iranian banks to open a $10bln line of credit to support construction projects in the Islamic Republic. The agreement was signed between the representatives of CITIC Trust and a consortium of Iranian banks at CITIC Group headquarters in Beijing on Thursday. The […]

5% Growth Expected in Iran this year

By John Lee. The Central Bank of Iran (CBI) has forecast economic growth of at least five percent for the current Iranian calendar year, which ends on 20th March 2018. CBI Governor, Valiollah Seif (pictured), is quoted as saying. “Most of the economic sectors have improved remarkably during the current fiscal year … therefore the […]

12 Banks in Iran-Korea €8-bn Finance Contract

The Managing Director of the Export Development Bank of Iran (EDBI) has said that 12 banks are “agent banks” in the €8-billion Iran-South Korea finance contract. According to the contract signed with the efforts of the Ministry of Economy, the Central Bank, the Organization of Investment, Economic and Technical Assistance of Iran (OIETAI), and 12 […]

Iranian Inflation Hits 10%

The Central Bank of Iran (CBI) has announced that inflation for the 12-month period ended 22nd August has hit 10 percent. The Statistical Center of Iran had previously put the country’s inflation rate at 7.7 percent. (Source: Tehran Times)

Without Reforms, Iranian Banking Crisis Looms

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. In Iran, concerns are growing that banks may be facing the same fate as credit and financial institutions (CFIs), many of which are believed to be on the verge of collapse. CFIs, many of them […]

Inflation likely to rise in Rouhani’s Second Term

By Bijan Khajehpour for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. In terms of economic management, containing inflation has been one of the most significant achievements of Iranian President Hassan Rouhani’s first term in office. The Rouhani administration managed to reduce inflation from close to […]

Expensive Deposits leave Iranian Banks stuck with Toxic Assets

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. Iranian media reports show that many banks and credit institutions are violating a decision made last June by the Money and Credit Council, the highest policymaking body of the Central Bank of Iran, in regard […]

Iran’s Central Bank must Regulate Unlicensed Actors

By Bijan Khajehpour for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Despite all modernization efforts, Iran is still a cash-based economy where banks and financial institutions play a significant role. Ever since the privatization of the banking sector in the early 2000s, the Central Bank […]

Iran faced with return of Double-Digit Inflation

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. The Central Bank of Iran (CBI) is stepping up its efforts to reform the country’s ailing banking system amid fears that inflation may pick up again. The monetary regulator is “serious” about the reforms, CBI […]

UAE’s ENOC Clears Iran Oil Dues

The Emirates National Oil Company (ENOC) has paid its outstanding oil dues to Iran, a report said. Iran received more than $4bn from ENOC as part of the UAE retailer’s settlement of its debts owed to Iran for pre-sanction oil and gas purchases, the Qatar-based Al Jazeera broadcaster reported on Tuesday. The report added that […]

What’s on Rouhani’s second-term Economic Agenda?

By Bijan Khajehpour for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Hassan Rouhani’s re-election on May 19 is welcome wind in the sail of the moderate political forces in Iran. The sharp rise in the index of the Tehran Stock Exchange can also be seen […]

Financial Tech Gaining Steam in 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. The Iranian capital played host to the four-day FINEX 2017 exhibition April 15-18. The annual event gathered more than 250 Iranian entities involved in banking and finance. While organizers dubbed it an international expo, only […]

Iran, Portugal Discuss Banking Ties

Ranking diplomats from Iran and Portugal in a meeting in Tehran explored avenues for boosting bilateral trade by removing obstacles to the banking ties. “The Islamic Republic of Iran tries to eliminate the banking barriers and enhance economic and monetary relations with the European countries, including Portugal,” Iran’s Foreign Minister Mohammad Javad Zarif said in […]

Why Iran won’t ditch the Dollar soon

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. The Central Bank of Iran (CBI) has for some time been working on a plan to stop using the US dollar in its financial reports. In a program aired on Iranian state television Jan. 28, […]

Iran, Pakistan Sign Banking Agreement to Facilitate Trade

The Central Bank of Iran (CBI) and the State Bank of Pakistan (SBP) signed a Banking and Payment Arrangement (BPA) to streamline trade transactions between the two nations. “The objective of this BPA is to provide a trade settlement mechanism to promote trade between Pakistan and Iran,” SBP said in a statement on Friday, DAWN […]

No Court Verdict Issued on Iranian Assets Freeze

Valiollah Seif, the governor of the Central Bank of Iran (CBI), said a Luxembourg court responsible for freezing $1.6 billion of Iranian assets in the European country has not issued a final verdict on the case yet. Speaking to reporters in Tehran on the sidelines of a cabinet session on Wednesday, Seif pointed to a […]