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Iranian Banks’ Foreign Assets Up 10%

EghtesadOnline: The total value of Iranian banks’ foreign assets by August 22 stood at 2.54 quadrillion rials ($65.12 billion), marking an increase of 10.4% compared with the corresponding period of last year.
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Publish Date:23/October/2017 | 10:12

Banks Obliged to Set Up Compliance Department

EghtesadOnline: The Central Bank of Iran in its latest directive publicized on Saturday obligates all certified financial institutions to establish an independent compliance department, as it moves to plug the hole on Iranian banks' shortfalls in meeting global anti-money laundering and combating terrorism financing regulations.
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Publish Date:23/October/2017 | 09:28

Banks’ Fiscal H1 Loan Portfolio at $68b

EghtesadOnline: The Iranian banking system paid out 2.7 quadrillion rials ($67.6 billion) worth of loans to more than four million applicants during the first half of the current Iranian year (March 21-Sept. 22), marking a 16.1% growth compared with the same period of last year.
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Publish Date:23/October/2017 | 09:22

3 Iranian Banks to Open India Branch

EghtesadOnline: Three Iranian private banks, namely Saman Bank, Parsian Bank and Bank Pasargad, plan to open branches in India, of which Pasargad’s request is in the final stage of approval, India’s ambassador to Iran announced.
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Publish Date:15/October/2017 | 10:53

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

Brazil Invites Iranian Banks to Open Branches

EghtesadOnline: Iranian banks will be able to open branches in Brazil after following due process like banks of any other nation, as the Latin American country welcomes expansion of trade ties with the Middle East country, Brazil's ambassador in Tehran said.
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Publish Date:18/September/2017 | 05:30

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

Spotlight on Major Lenders Over Delay in AGMs

EghtesadOnline: The annual general meetings of major banks and credit institutions have run into a snag, as lenders struggle to incorporate the latest standards introduced by the Central Bank of Iran into their balance sheets, which issue has overshadowed Iranian lenders for nearly two years.
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Publish Date:23/August/2017 | 05:47

18.4% Rise in Banks’ Lending Portfolio

EghtesadOnline: Iranian banks allotted loans worth 1.533 quadrillion rials ($40.2 billion) to various economic sectors during the first four months of the current Iranian year (started March 21), indicating an 18.4% growth compared with the same period of last year.
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Publish Date:22/August/2017 | 13:23

Bounced Checks Down 5.6%

EghtesadOnline: Iranian banks returned 1.5 million checks worth 130.6 trillion rials ($3.4 billion) during the month that ended on July 22, the official website of the Central Bank of Iran reported.
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Publish Date:20/August/2017 | 09:36

Banks Neutral on Rate Decision

EghtesadOnline: Iranian banks are reluctant to initiate interest rate cuts, the secretary-general of Private Banks and Credit Institutions Association said.
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Publish Date:30/July/2017 | 07:45

Banks to Share Account Data With Tax Authorities

EghtesadOnline: As their deadline looms, banks and credit institutions are signing agreements that legally bind them to hand over information about the bank accounts of taxpayers to Iran National Tax Administration, an official with INTA announced.
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Publish Date:25/July/2017 | 08:36

Ukraine Seeks Linkup With Iranian Banks

EghtesadOnline: Ukrainian former president, Viktor Yushchenko, announced that his country intends to expand economic ties with Iran, for which a Ukrainian delegation is negotiating establishment of financial ties with Iranian banks.
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Publish Date:12/July/2017 | 07:52

Bank Rating System Still Under Review

EghtesadOnline: The plan to rank Iranian banks on the basis of a new rating system is still under review and will be executed when conditions are agreeable, the director general for supervision over banks and credit institutions at the Central Bank of Iran said.
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Publish Date:11/July/2017 | 07:29

Surge in BMI Interest-Free Loans

EghtesadOnline: Bank Melli Iran has provided over four million Qarzol-Hassaneh (interest-free) loans worth 87 trillion rials ($2.3 billion) in the past four years, the bank’s website announced.
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Publish Date:11/July/2017 | 07:25

Bank Mellat’s Seoul Branch Resumes Operations

EghtesadOnline: Bank Mellat has officially restarted work in South Korea through its branch in Seoul, Iran’s ambassador to the East Asian nation announced.
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Publish Date:09/July/2017 | 07:44

Sina Linking Up With Foreign Banks

EghtesadOnline: Sina Bank has established correspondent relations with 25 internationally recognized banks to benefit from their international experience and provide better services to customers, the bank’s website reported.
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Publish Date:05/July/2017 | 09:33

BMI Slimming Down

EghtesadOnline: Bank Melli Iran is set to gradually shed its excess assets currently worth 27 trillion rials ($714 million) after the clearance of legal hurdles, BMI’s deputy for logistics announced.
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Publish Date:04/July/2017 | 07:41

Tejarat Bank’s Norway Presence Denied

EghtesadOnline: The Royal Norwegian Embassy in Tehran has denied a recent report suggesting that Iran’s Tejarat Bank is to open a branch in the Nordic country.
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Publish Date:30/June/2017 | 13:09