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Iran Raises Foreigners' Bank Account Limit

EghtesadOnline: In its most recent meeting, the Money and Credit Council, a top financial decision-making body, has ruled to raise the ceiling set for the annual turnover of rial accounts allowed for foreigners in Iranian banks.
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Publish Date:06/September/2017 | 08:19

Iranian Banks' Post-Sanctions Forex Deals Top $38b

EghtesadOnline: Since the implementation of the nuclear accord with world powers in Jan. 2016, Iranian banking system has engaged in foreign exchange transactions worth over $38 billion, the Central Bank of Iran announced.
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Publish Date:27/August/2017 | 06:42

Liquidity Dilemma Linked to Bank Balance Sheets

EghtesadOnline: The volume of liquidity has been constantly on the rise in the Iranian economy for years, prompting many pundits to refer to it as a ticking time-bomb that, if not defused, will eventually create the next economic crisis.
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Publish Date:22/August/2017 | 08:35

Impacts of Cabinet Change on Iran Banks

EghtesadOnline: A key change in President Hassan Rouhani's Cabinet for his second tenure will potentially impact both state-owned and private lenders, and subsequently influence the outcome of his central promise of reforming the beleaguered banking system.
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Publish Date:12/August/2017 | 13:15

Lawmakers, Bank CEOs Will Discuss Interest Rate Cuts

EghtesadOnline: A top parliamentary economic commission will soon hold a joint session with CEOs of banks to brainstorm and decide new bank interest rates, announced the head of the commission.
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Publish Date:01/August/2017 | 06:13

Central Bank of Iran Directive Makes IFRS Mandatory

EghtesadOnline: In order to protect the interests of banks and credit institutions' depositors and shareholders, and maintain the stability and health of banking system, the Central Bank of Iran has set a number of conditions vis-à-vis banks' financial statements whose fulfillment is necessary for shareholders' annual meetings to become viable.
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Publish Date:22/July/2017 | 05:05

Banks Allocated $27b of Loans in Q1

EghtesadOnline: The Iranian banking system paid out 1.01 quadrillion rials ($27 billion) worth of loans to nearly 1.4 million applicants in the first three months of the new Iranian year to June 21, marking an 8.5% growth compared with the same period of last year.
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Publish Date:19/July/2017 | 05:52

9 Exchange-Listed Banks Drown in Sea of Red Ink

EghtesadOnline: The Iranian banking conundrum is getting more complicated every day. The Central Bank of Iran’s officials have announced plans to merge several failing banks, causing many depositors to contemplate withdrawing their money from those lenders.
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Publish Date:04/July/2017 | 07:36

Iran: 30% Progress in Banks IFRS Adoption

EghtesadOnline: Iranian banks’ progress in adapting to their financial statements with the new model set by the Central Bank of Iran was around 20-30% during the previous Iranian year (ended March 20), said a private bank’s board member.
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Publish Date:17/June/2017 | 07:09

New Capital Rules for Iranian Banks Approved

EghtesadOnline: A new directive aimed at enhancing banks' capital adequacy ratio in line with international standards was approved during the last meeting of the Money and Credit Council late Tuesday.
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Publish Date:16/June/2017 | 07:36

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

CBI: Iran Financial System on Sound Footing

EghtesadOnline: Even though a handful of Iranian banks are fighting formidable challenges, including unhealthy balance sheets and thin capital cushions, they are not facing any existential threats, said a Central Bank of Iran official in response to recent claims that the financial system is nearing bankruptcy.
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Publish Date:06/June/2017 | 09:56

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

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

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