Tag Archives | banking

US to Allay British Banks’ Concerns about Ties with Iran

US Secretary of State John Kerry is planned to hold talks with representatives of a number of tentative British banks this week in London in a move to allay their concerns about forging ties with Iran following a lasting nuclear deal. The British Bankers’ Association (BBA) has circulated a note to its members inviting them […]

Will ‘Free Financial Center’ Lure Foreign Banks 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. Iranian authorities are weighing whether to launch a free financial center, most probably in one of the country’s free trade zones, to encourage capital inflow into the economy. “Planning is underway to turn free […]

Why big Euro Banks are Reluctant to Return to Iran

By Arash Karami, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Iran’s largest bank is eager to resume ties with major European banks, but only smaller financial institutions have been willing to return to the Iranian market in the aftermath of a landmark nuclear deal. […]

Danish FM Hopes for Lift of Ban on Money Transfers

Denmark’s Foreign Minister Kristian Jensen has expressed the hope that the restrictions surrounding money transfers to Iran will be lifted swiftly. In a meeting with Iran’s Deputy Foreign Minister for Consular, Parliamentary and Expatriates’ Affairs Hassan Qashqavi in Copenhagen on Tuesday, Jensen underlined the need for promotion of bilateral ties between the two countries in […]

Irish Banks claim Difficulties in Trade with Iran

Two major Irish banks confirmed on Tuesday that restrictions on processing Iranian money are still in place despite a lasting nuclear between Tehran and world powers. AIB (Allied Irish Banks) and Bank of Ireland announced that they still face difficulties in working with Iranian banks, saying that the restrictions could see Ireland lose ground to […]

Video: Iran says cannot access Frozen Funds

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iran Business News. The Governor of Iran’s Central Bank, Valiollah Seif, tells the Council on Foreign Relations in Washington that Iran still cannot access its frozen funds abroad and he doesn’t think that their Western partners are […]

Iranian Merchants Still Facing Barriers to SWIFT

A member of Iran’s Chamber of Commerce complained about the lack of practical influence of the country’s reconnection to SWIFT, saying his company has still difficulty in using the financial telecommunication service for trade with the foreigners. Speaking to the Tasnim News Agency, Majid Movafeq Qadiri (pictured) said his company could not still open letters […]

US may Easy Dollar Restrictions on Iran

By John Lee. The United States may soon relax its restrictions on the use of dollars in transactions with Iran, according to a report from The Associated Press. Officials told the news agency that the Treasury Department is considering issuing a general license that would permit offshore financial institutions to access dollars for foreign currency […]

Pakistan to Trade with Iran in Euros, not Dollars

By John Lee. IRNA reports that Pakistani businessmen will open letters of credit (LCs) for imports from Iran in euros instead of dollars, as some US sanctions are still in place that could obstruct payments to Tehran. The State Bank of Pakistan (SBP) said it was not possible at this stage to open LCs in […]

Iran, Iraq sign Banking MoU

By John Lee. Iran and Iraq have signed a memorandum of understanding (MoU), covering cooperation in the banking sector, in Baghdad on Wednesday. IRNA reports that the MoU was inked at a meeting attended by the visiting Governor of the Central Bank of Iran (CBI), Valiollah Seif (pictured), and his Iraqi counterpart Ali Al Alagh […]

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 […]

UK Seeks to Ease Banking Problems with Iran

By John Lee. The United Kingdom is working with its European partners to help ease the impact of banking restrictions on trade with Iran. Despite the removal of nuclear-related sanctions, U.S. restrictions, including a ban on dollar trading and a freeze on U.S. banks engaging in trade, remain in place. UK Business Secretary Sajid Javid […]