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Banks Sticking to Lower Interest Rates

EghtesadOnline: Since the implementation of the Central Bank of Iran ’s directive decreeing banks and credit institutions cap their interests on one-year deposits at 15% from September 2, lenders have largely cooperated, the head of CBI’s Department of Supervision Over Banks and Credit Institutions said.
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Publish Date:19/September/2017 | 09:26

Private Banks’ Liabilities to CBI Double

EghtesadOnline: The total arrears of 27 Iranian private banks and non-bank credit institutions to the Central Bank of Iran up to July 22 stood at 494.1 trillion rials ($12.6 billion), marking a significant growth of 14.7% compared to the previous month.
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Publish Date:17/September/2017 | 05:14

Pundits Welcome Travel Currency Elimination

EghtesadOnline: Reactions to the Central Bank of Iran ’s latest directive that effectively eliminates the allocation of subsidized foreign currency to travelers and paves the way for forex rate unification have been largely positive.
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Publish Date:17/September/2017 | 05:13

CBI Committed to Forex Stability

EghtesadOnline: The Central Bank of Iran 's governor has declared that the administration has no interest in letting foreign exchange rates climb and that it will take measures to keep the forex market stable.
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Publish Date:16/September/2017 | 03:53

Dual Requirements of Forex Rate Unification

EghtesadOnline: In addition to establishing ties with major international banks, the plan to unify dual foreign exchange rates requires prerequisites, the Central Bank of Iran ’s former deputy for foreign exchange affairs said.
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Publish Date:13/September/2017 | 24:07

Forex Rates Rise After CBI Directive

EghtesadOnline: Foreign exchange rates increased in Tehran's market on Wednesday, following the Central Bank of Iran 's latest regulations concerning foreign currency offered at banks to travelers.
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Publish Date:11/September/2017 | 11:53

CBI to Regulate Inactive Accounts

EghtesadOnline: An official of the Central Bank of Iran has announced the details of regulations related to dormant accounts that were passed by the Money and Credit Council in early August.
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Publish Date:10/September/2017 | 11:03

MCC Briefed on Economic Performance

EghtesadOnline: The Economic Office at the Central Bank of Iran has briefed the Money and Credit Council on the latest economic developments in MCC’s most recent meeting late Tuesday.
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Publish Date:10/September/2017 | 11:00

Iran, S. Africa See No Obstacles to Banking Relations

EghtesadOnline: Governor of the Central Bank of Iran and the speaker of the National Assembly of South Africa met on Monday in Tehran, with both officials calling for expanded ties between Tehran and Pretoria.
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Publish Date:06/September/2017 | 08:22

ECO Bank Permitted to Open Iran Office

EghtesadOnline: President Hassan Rouhani’s Cabinet has allowed the Central Bank of Iran to engage in negotiations and sign the “agreement of the host country” required for the ECO Trade and Development Bank to open a representative office in Iran.
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Publish Date:05/September/2017 | 11:20

Iran: Interest Rates and the Battle for Deposits

EghtesadOnline: Saturday was the implementation day for the Central Bank of Iran ’s latest major directive on bank interest rates, which has already created a momentum in the banking system as lenders are scurrying to absorb the maximum number of deposits.
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Publish Date:04/September/2017 | 07:51

Banking Reform Takes Center Stage Once Again

EghtesadOnline: Reforming the Iranian banking system, whose representatives have been grappling with a variety of issues, has once again come to the fore of national dialogue at a time when the Central Bank of Iran is trying to enforce lower interest rates.
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Publish Date:02/September/2017 | 13:52

CBI Buttressing Banknotes’ Security

EghtesadOnline: The Central Bank of Iran has outlined measures to enhance banknotes’ security features, CBI’s official website announced.
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Publish Date:02/September/2017 | 13:50

No More Comfort Zone for Auto Industry

EghtesadOnline: The Central Bank of Iran (CBI) and the Ministry of Industries have jointly issued a mandate that requires automakers to reduce the interest rate offered on pre-sale contracts.
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Publish Date:30/August/2017 | 14:20

PPI Inflation at 7.6%

EghtesadOnline: The average Producer Price Index in the 12 months ending August 22, which marks the end of the Iranian month of Mordad, increased by 7.6% compared with last year’s corresponding period, the latest report by the Central Bank of Iran announced.
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Publish Date:30/August/2017 | 13:52

Iran Private Sector Calls for Strict Rate Cut Control

EghtesadOnline: As the Central Bank of Iran issued a new directive on Aug. 23 setting a deadline for banks to reduce their deposit interest rates to 15%, the Iranian private sector demands strict oversight over the implementation of rate cuts since banks are already trying to find a way out of it.
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Publish Date:28/August/2017 | 09:50

Majlis Think Tank Endorses CBI on Financial Reporting Standards

EghtesadOnline: In case of disagreement between the Central Bank of Iran and the Audit Organization of Iran over who gets to set financial reporting standards for banks and credit institutions, which issue has already borne significant costs for lenders, the parliamentary think tank has ruled in favor of the central bank.
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Publish Date:28/August/2017 | 09:49

Banks Allowed to Make Forex Market Foray

EghtesadOnline: In line with the general policy of conducting foreign exchange transactions through the banking system rather than exchange shops and stabilizing the market, the Central Bank of Iran is allowing lenders to purchase the hard currency of exporters at open market exchange rates, CBI’s head of exports department said.
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Publish Date:27/August/2017 | 09:27

Iran's Central Bank Doubles Down on Enforcing Interest Rates

EghtesadOnline: While more than a year has passed since bank deposit interest rates were officially set at 15%, the Central Bank of Iran has now set a deadline through its latest directive to enforce the lowered rates.
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Publish Date:26/August/2017 | 06:25