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Housing Boom Tied to Banking Reforms

EghtesadOnline: The Iranian housing market has been mired in recession for the past four years, but while its gradual recovery is almost certain, it will heavily hinge on what President Hassan Rouhani’s government will do to reform the banking system, two housing experts said.
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Publish Date:14/June/2017 | 11:46

22 Iranian Banks Link Up With Oberbank

EghtesadOnline: Banking ties with two major Austrian banks are being established, with Iranian banks establishing 22 correspondent relations only with Oberbank, the governor of the Central Bank of Iran said.
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Publish Date:13/June/2017 | 05:59

Wide Support for Iran's Bank Mergers

EghtesadOnline: The possibility of mergers in the Iranian banking system accelerated with the recent announcement by the Central Bank of Iran’s Governor Valiollah Seif that the motion could be used as a solution for low-profit banks since it helps them reduce their expenses while easing the process of standardizing their financial statements and banking operations.
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Publish Date:11/June/2017 | 07:15

Bank Mergers Possible

EghtesadOnline: Governor of the Central Bank of Iran Valiollah Seif has confirmed the possibility of merging banks, saying it will help the financial statements of Iranian banks comply with international standards.
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Publish Date:27/May/2017 | 07:34

Banks Urged to Prioritize Bad Loan Recovery

EghtesadOnline: As the Iranian banking system continues to grapple with the growing problem of sour loans, the governor of the Central Bank of Iran has urged lenders to direct the bulk of their efforts toward recovering their non-performing loans.
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Publish Date:27/May/2017 | 05:21

Banking System Moving Toward Basel III

EghtesadOnline: The Central Bank of Iran has played a significant and effective role in implementing Basel II and III standards in the banking system, a board member of Bank Maskan said.
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Publish Date:14/May/2017 | 09:57

CBI Focuses on Banking Trouble Areas

EghtesadOnline: Governor of the Central Bank of Iran Valiollah Seif has outlined four troublesome areas for the Iranian banking system and what is currently being done to effectively address them.
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Publish Date:14/May/2017 | 04:43

Iranian, foreign banks sign MoUs worth $60 bln

EghtesadOnline: Iranian banks have already signed several MoUs worth $60 billion with foreign banks since the implementation of the nuclear deal known as JCPOA, Iranian minister of economic affairs and finance Ali Tayebnia announced.
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Publish Date:10/May/2017 | 24:51

Industrial Bank Arrears Down to 11%

EghtesadOnline: Iran's industrial sector has managed to repay 4.5% of its debts to the banking system over the past four years, said the minister of industries, mining and trade.
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Publish Date:08/May/2017 | 10:52

Bright Future for Iran-Europe Ties

EghtesadOnline: In spite of US President Donald Trump’s inflammatory remarks on the nuclear deal (formally referred to as the Joint Comprehensive Plan of Action) and their negative impact, there is room for optimism with regard to the future of banking ties with Europe, the head of the International Bankers Forum and a chief organizer of the Iran-Europe Banking and Business Forum said.
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Publish Date:27/April/2017 | 10:48

Exchangers Urged to Quit Banking Operations

EghtesadOnline: The Central bank of Iran is determined to navigate moneychangers back to their original activities and leave banking operations to banks, said the head of the Department for Banking Supervision at CBI.
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Publish Date:27/April/2017 | 10:43

Banking Reconnection Follows Nuclear Deal

EghtesadOnline: Iran's Ministry of Economic Affairs and Finance has published a report detailing the performance of seven Iranian banks in the area of correspondent relations, indicating that the international banking system is gradually warming up to reestablishing ties with the country.
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Publish Date:26/April/2017 | 08:50

Banks Obliged to Establish Risk Department

EghtesadOnline: The Central Bank of Iran has urged banks to set up a compliance risk department in line with Basel II Accord issued by the Basel Committee on Banking Supervision in June 2004, said the CEO of Bank Sepah.
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Publish Date:24/April/2017 | 09:15

Banks’ Lending Up 40%

EghtesadOnline: Iranian banks' loan portfolio expanded by 40% during the year to March 20 despite grappling with a credit shortage, said the governor of the Central Bank of Iran.
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Publish Date:15/April/2017 | 08:50

Iranian Banks Speed Up Bad Loan Recovery

EghtesadOnline: Since February 2017 when the Cabinet first approved that penalties for non-performing loans will be waived for loans up to 1 billion rials ($28,178), about 8 trillion rials ($213 million) of fines have been waived and the banking system has recovered more than 1.6 trillion rials ($426 million) in bed debt, said the chairman of Majlis Planning and Budget Commission.
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Publish Date:12/April/2017 | 08:09

Iranian Banks' L/C Boom in Post-Sanctions Era

EghtesadOnline: The Ministry of Economy has published the details of letters of credit and banking guarantees that Iranian banks allocated over the past few years, which marks the progress of these banks after economic sanctions against Iran were lifted.
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Publish Date:09/April/2017 | 08:22

Iran Closing the Gap on Banking Innovation

EghtesadOnline: Despite restrictions imposed by sanctions, some of which having outlived the 2015 nuclear accord, the administration of President Hassan Rouhani managed to significantly close the technological gap between the Iranian and global banking systems by focusing on innovative products in the field, a deputy economy minister said.
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Publish Date:09/April/2017 | 07:46