Structural Reforms in Banks to Help Ensure Fiscal Stability

EghtesadOnline: The second and final day of the Conference on Monetary and Foreign Exchange Policies came to a close in Tehran on Wednesday after focusing on structural reforms, mostly in the banking system, with the aim of achieving fiscal stability.

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Publish Date:23/June/2018 | 06:48

New Report Reveals Banks’ NPL Ratio Gap

EghtesadOnline: A senior member of Majlis Article 90 Commission presented the latest report on the state of non-performing loans of Iran's banking system in Tuesday's open session, which painted a highly contrasting picture.

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Publish Date:23/May/2018 | 09:49

CBI Underscores Support for Agricultural Sector

EghtesadOnline: Central Bank of Iran Vice Governor Akbar Komijani underscored the banking system’s contribution to the implementation of a national policy to promote domestic production by providing substantial support to the agricultural sector.

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Publish Date:12/May/2018 | 10:24

Banks to Decide FX Deposits’ Interest Rates

EghtesadOnline: The Central Bank of Iran has focused on encouraging people to entrust their foreign currency banknotes to the banking system and according to the regulator’s director of the Department for Foreign Exchange Regulations and Policies, banks are allowed to devise their own interest rates on foreign currency deposits.

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Publish Date:22/April/2018 | 04:32

Payment Transaction Fees a Challenge for Banking System

EghtesadOnline: As the new fiscal year started on March 21 and the banking system expects major reforms, the issue of payment services’ fees poses a huge challenge to the electronic banking sector.

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Publish Date:09/April/2018 | 04:55

MRC Backs Banking Reforms With a Caveat

EghtesadOnline: The research arm of Iran's Parliament has recommended that the lawmakers approve the government's bill to undertake long overdue reforms in the banking system, but only if it is combined with lawmakers' own version of reforms to compensate for its many shortcomings.

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Publish Date:13/March/2018 | 09:10

Iran Banks Urged to Enforce AML/CFT Measures

EghtesadOnline: The Central Bank of Iran has called on the banking system to enforce anti-money laundering and combating the financing of terrorism measures by establishing strong compliance departments.

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Publish Date:13/March/2018 | 07:11

Bank Mellat Accepts Facial Recognition

EghtesadOnline: Bank Mellat has now made facial recognition available as an option for unlocking its mobile banking app to become the first bank to offer this capability in the Iranian banking system.

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Publish Date:06/February/2018 | 07:43

CBI Delays USSD Decision

EghtesadOnline: The Central Bank of Iran has backtracked on its directive that was supposed to be implemented from Sunday and aimed at boosting information safety in the banking system by making end-to-end encryption for card not present transactions mandatory.

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Publish Date:05/February/2018 | 14:35

BMI Absorbs Most Deposits

EghtesadOnline: Bank Melli Iran, the country’s biggest bank, attracted more than 22% of all the rial and foreign exchange deposits of the banking system in the first nine months of the current fiscal year to Dec. 21, placing it on top of all banks and credit institutions in this regard.

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Publish Date:21/January/2018 | 08:37

Capital Market Guarantees Unacceptable

EghtesadOnline: In its latest directive to the banking system, the Central Bank of Iran has obliged all banks and credit institutions to refrain from accepting any kind of guarantees from financial entities active in the capital market and under the supervision of the Securities and Exchange Organization, including brokerage firms.

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Publish Date:15/January/2018 | 13:05

Bank Loans Exceed $85 Billion

EghtesadOnline: The total volume of loans paid out by the country’s banking system surpassed 3.5 quadrillion rials ($85.1 billion) in the first eight months of the current Iranian year to Nov. 21, to mark an increase of 313.2 trillion rials ($7.45 billion) or 9.6% compared with the corresponding period of last year.

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Publish Date:14/January/2018 | 11:36

Iranian Banks Link Up With 286 Foreign Peers

EghtesadOnline: Close to two years after the Joint Comprehensive Plan of Action was signed, the Iranian banking system has regained the lost ground and established 808 correspondent banking relations with 286 foreign banks.

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Publish Date:07/January/2018 | 10:30

Limit on Bank Account Numbers Enforced

EghtesadOnline: As per the directive recently implemented in the banking system, natural persons are only allowed to open a total of six accounts with each bank while none of the accounts can be of the same kind, the head of the Banking Research and Regulations Department at the Central Bank of Iran said.

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Publish Date:25/December/2017 | 05:52

CBI Underscores Microfinance

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.

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Publish Date:11/December/2017 | 08:19

Banks Urged to Help Quake Victims

EghtesadOnline: Central Bank of Iran’s Vice Governor Akbar Komijani appealed to the country’s banking system to help the victims of Kermanshah’s recent earthquake and fulfill their corporate social responsibility.

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Publish Date:25/November/2017 | 11:31

No Banking Fees for Gov’t Accounts

EghtesadOnline: Any attempt by Iranian banking system to receive fees for providing services to government-owned accounts lacks any legality, according to a letter forwarded by the Department of Financial Supervision and Treasury Affairs at the Ministry of Economic and Finance Affairs.

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Publish Date:25/November/2017 | 09:44

Iranian Banks Lend $76b to 5 Million Applicants

EghtesadOnline: The Iranian banking system paid out loans worth 3.13 quadrillion rials ($76.48 billion) to nearly 5 million applicants in the first seven months of the current Iranian year to Oct. 22, marking a 12.6% growth compared with the same period of last year.

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Publish Date:18/November/2017 | 15:28

Private Sector Wants Say in Financial Decision-Making

EghtesadOnline: A motion proposed by parliamentarians aimed at reforming the ailing banking system reportedly excludes the limited authority the private sector currently has in financial decision-making, which has been met with the strong disapproval of business figures.

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Publish Date:15/November/2017 | 10:21

CBI Notifies Liquidity Risk Regulations

EghtesadOnline: The Central Bank of Iran has officially notified the directive for “minimum requirements of liquidity risk management of credit institutions” to the banking system that was approved by the top financial decision-making body Money and Credit Council two weeks ago.

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Publish Date:04/November/2017 | 09:44