Tag Archives | banking

Meeting on Closer Banking Ties with Latin America

Iran’s Foreign Ministry officials and representatives of the state-run and private banks held a meeting in Tehran to explore avenues for expansion of banking relations with Latin American nations following the implementation of the JCPOA. The gathering was attended by Iranian Foreign Ministry’s political directors in charge of Latin American affairs, representatives from Iranian banks, […]

Payment App wins FinTech Award

By John Lee. A payment application for foreign tourists has reportedly won Bank Pasargad’s award for best fintech innovation at the First Fintech Festival. ZPay allows visitors to shop in Iran while keeping their money outside the country. (Source: CryptoCoinsNews)

Why do Iranian Banks remain 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. On Feb. 26, the Iranian government got the go-ahead from parliament members to sell a total of 10 trillion rials ($308 million) worth of excess properties owned by the ministries of Information and Communications Technology […]

Banking Problems stall Linde Iran Contracts

By John Lee. Reuters reports that German industrial gases group Linde has revived plant-engineering contracts in Iran, but is unable to act on them until it can transfer money out of the country. It quotes CEO Aldo Belloni as saying that the contracts date from “years ago“, before sanctions were imposed. (Source: Reuters)

France Plans Loans for Companies Investing in Iran

By John Lee. The French Finance Minister Michel Sapin (pictured) has that France plans to issue direct loans to companies that want to invest in Iran. At a joint press conference in Tehran with his Iranian counterpart, Ali Tayebnia, he said: “We are trying to help these companies … They wil be able to apply […]

Iran, Malaysia Agree to Trade in Yen, Yuan

Iran and Malaysia have agreed to use Japanese yen and Chinese yuan in their bilateral trade, a senior Iranian banking official said. We welcome the eagerness of Malaysian banks to open accounts in Iranian commercial banks in the South Asian country’s currency, Ringgit, Deputy Governor of the Central Bank of Iran (CBI) for Currency Affairs […]

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 […]

Resolution of Banking Problems “Key to Expansion”

The chairman of the Iran-Germany Joint Chamber of Commerce highlighted the banking problems hampering the Islamic Republic’s foreign trade, saying that their resolution is key to expansion of relations between the two countries. “With the removal of banking problems, Iranian and German companies can have useful talks with each other and develop their ties,” Gholam […]

US to Address Iran Banking Concerns

Iranian Foreign Minister Mohammad Javad Zarif said Washington has pledged to allay the concerns of European banks about trading with Iran following the removal of anti-Tehran sanctions. US Secretary of State John Kerry has given assurances that Washington will not punish the European banks engaged with Iran’s financial entities, Zarif told Japan’s Kyodo news agency […]

Iran, Netherlands Discuss Facilitation of Trade, Banking Ties

Iran’s ambassador to the Netherlands and president of the European country’s central bank in a meeting in The Hague explored avenues to facilitate trade and financial transactions between the two counties. The Iranian diplomat, Alireza Jahangiri, and President of De Nederlandsche Bank (DNB) Klaas Knot in the meeting discussed ways to boost banking interactions between […]

Iran to discuss Banking Obstacles at UN

Iran’s Deputy Minister of Roads and Urban Development Asghar Fakhrieh Kashan said issues related to removal of banking obstacles to the revival of trade in the country under the JCPOA will be discussed on the sidelines of United Nations meetings in New York this week. “We are negotiating and I hope that during the trip […]