Tag Archives | Central Bank of Iran (CBI)

Iran Postpones Unification of Exchange Rates

By John Lee. The Central Bank of Iran (CBI) has reportedly indicated that it will not be able to unify the country’s “official” and”open market” currency exchange rates by March 20, as previously planned. According to the report from Forbes, unifying the rates has been one of the key policy goals of the Rouhani government. […]

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 […]

Bank Mellat Shares Lose 37.5% in One Day

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 sudden and sharp fall in the main index of the Tehran Stock Exchange (TSE) on Jan. 24 came as a real shock to investors. After allowing the resumption of trade in Bank Mellat shares, […]

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 […]

Is Rouhani Repeating Ahmadinejad’s Tricks in Currency Market?

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. Ever since the rial hit an all-time low against the greenback on Dec. 27, top monetary policymaker Valiollah Seif (pictured) has been reiterating that the Central Bank of Iran (CBI) will use every tool available […]

Iran Attracts $7.2bn in Finance from 3 Foreign Banks

The vice governor of the Central Bank of Iran (CBI) has announced that the country has managed to attract 7.2 billion dollars in finance from three foreign banks. In a meeting between Iranian First Vice-President Eshaq Jahangiri and the CBI officials in Tehran, Gholamali Kamyab said attracting $10 billion of foreign finance has been defined […]

Deciphering Iran’s Sudden Currency Fluctuations

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. Recent fluctuations in the free market rate of the Iranian rial have caused concerns within the country’s business community that the currency may experience a sharp decline in value due to economic and political […]

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 […]

Heavy Fines for Illegal Moneychangers

By John Lee. Financial Tribune reports that many illegal bureaux de change in Iran have received heavy fines. The director general for banking regulations, licensing and anti-money laundering at the Central Bank of Iran (CBI), Abdolmahdi Arjomandnejad, said: “The authorities have taken legal measures against those who fail to obtain licenses for their currency exchange […]