In an interview with Eghtesad Online, Hussein Selahevarzi, an economic activist, discussed the challenges within Iran's banking system, particularly focusing on the issue of banks operating as holding companies. According to the Ministry of Economic Affairs, efforts are underway to eliminate this practice. The Minister of Economic Affairs has announced that "bank holding companies will be phased out within the next two years," but achieving this goal requires policies that prevent banks from continuing or intensifying this approach. Some economic analysts believe that in order to reduce the incentives for banks to engage in holding company activities, the government should bring interest rates closer to inflation rates. This is especially important given the difficulties banks have faced under sanctions and the accumulation of non-performing loans from businesses that took significant risks but failed to repay their debts on time.

EghtesadOnline: Iran’s banking sector is pressing ahead with overseas business despite the shadow of sanctions’ revival looming over it, after the US unilaterally withdrew from the 2015 nuclear deal early this month, Bank Mellat CEO Mohammad Bigdeli said.

EghtesadOnline: Iran’s banking sector has rebounded in the absence of sanctions lifted under the 2015 nuclear deal and will continue to rebuild its foreign correspondent relations despite the recent US withdrawal from the deal, a senior banking official said.

EghtesadOnline: The governor of the Central Bank of Iran said on Monday Iran’s banking relationship with the outside world is incomparable with what it was before the nuclear deal was reached between Iran and word powers, which is formally known as the Joint Comprehensive Plan of Action.

EghtesadOnline: Iran’s high-ranking political and economic delegation, headed by Foreign Minister Mohammad Javad Zarif, completed the last leg of its East Europe tour on Saturday after focusing on resolving banking issues hampering bilateral relations.

EghtesadOnline: The governor of the Central Bank of Iran on Monday met with the ambassador of Switzerland in Tehran to discuss improvements in the banking system and the possibility of Iranian lenders opening branches in the Alpine country.

EghtesadOnline: Tehran’s iconic Milad Tower on Monday hosted the largest banking event of the year, which whole-heartedly supported financial technology and innovative solutions to succor an economy centered on a besieged banking system in dire need of reforms.

EghtesadOnline: Governor of the Central Bank of Iran Valiollah Seif asked the country’s banking system to gradually shift their lending practices and fund small- and medium-scale enterprises instead of big projects.

EghtesadOnline: In the Iranian banking world, the IFRS fever has been running high in the past few months.

EghtesadOnline: The trip of Iran’s Foreign Minister Mohammad Javad Zarif to Africa also bore banking fruits, as Iran will be able to establish correspondent banking relations with South Africa, Uganda and Niger in the foreseeable future, the chief executive of the Export Development Bank of Iran said.

EghtesadOnline: European banks are showing interest in Iran’s market, the director of financial services at Germany’s KPMG, a subsidiary of one of the world’s leading financial advisory companies, said.

EghtesadOnline: The twin banking reform bills devised by the government are now being assessed in Majlis Economic Commission and will be ratified in open sessions by December, a member of the commission announced.

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.

EghtesadOnline: The Iranian banking system has been combating a variety of serious problems such as a crippling credit crunch, sky-high non-performing loans and a lower share of the money market caused by the activities of shadow banks.

EghtesadOnline: Nothing is easy for Iran's economy these days, and things could soon get even tougher.

EghtesadOnline: Iranian and Vietnamese ministers inked a memorandum of understanding (MoU) on Sunday in Tehran for accelerating resumption of banking cooperation between the two countries.

EghtesadOnline: Bank fees and their forex income should be increased to lower the interest rates in the banking sector, the CEO of Export Development Bank of Iran said.

EghtesadOnline: Iran and Croatia have signed an agreement on banking and payment arrangement, the minister of cooperatives, labor and social welfare announced.

EghtesadOnline: In what was another auspicious development for Iran, Euler Hermes has offered to cover Iranian projects, which move is expected to ease the flow of investment into Iran and enhance the country’s status.

EghtesadOnline: The Iranian Parliament has formed a special committee to address pressing economic issues facing the country, with a special focus on the banking system.