Banks
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CBI Message to Banks: Clean Up Your Books
EghtesadOnline: The Central Bank of Iran is expanding the scale of its monitoring of banks’ lending policies with the help of innovative IT tools.
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18 Banks Are Saddled With Very Low Capital
EghtesadOnline: Financial reports of banks show the majority are struggling with capital adequacy ratios (CARs) below global financial norms.
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Banks Eye Credit Card Comeback
EghtesadOnline: Banks have received 100,000 requests for credit cards for which Justice Shares can be used as collateral, an official with the Central Security Depository of Iran (CDSI) said.
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IME Willing to Help Banks Cede Non-Financial Assets
EghtesadOnline: The managing director of Iran Mercantile Exchange in a letter to banks announced that the IME is willing and able to help them divest their non-financial assets.
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Banks Will Raise Credit Card Ceiling
EghtesadOnline: The Central Bank of Iran on Sunday increased the credit card limit by four times allowing banks to offer up to 2 billion rials ($8,000) in credit.
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Gov’t to Offer Residue Shares in Three Banks
EghtesadOnline: The government plans to sell its remaining stake in three banks and an agro company in blocks of shares.
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Banks Need to Shift Focus on High-Tech
EghtesadOnline: A recent study estimates that information technology investment barely accounts for 1.73% of Iranian banks' annual spending. This is while a sharper focus on the key sector can…
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Ten Banks Operate 78% of ATMs
EghtesadOnline: Ten big banks operated more than 47,000 automated teller machines (ATMs) in Iran by April 21, accounting for 78% of the total.
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New Rules Tighten Oversight of Banks’ Lending Procedures
EghtesadOnlne: The Central Bank of Iran Tuesday unveiled the ‘Centralized Database for Loans and Commitments’ known by its Persian acronym Samat, planned to enhance the CBI’s oversight of loans…
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Banks Told to Block Transactions of Flawed IDs
EghtesadOnline: The Central Bank of Iran announced that as of April 26, the PAYA network, an electronic clearing house, has stopped processing transactions lacking full ID of bank customers.
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CBI Says: Tax Exemption to Banks Can Pave Way for Higher Official Forex Rates
EghtesadOnline: The Central Bank of Iran is willing to reconsider official foreign exchange rates to market rates if the government offers tax exemptions to banks, the CBI governor said.
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Interest Rates, Bourse and a Caveat
EghtesadOnline: The Economy Minister Farahad Dejpasand in a letter to banks and credit institutions asked them to comply with interest rates announced by the Money and Credit Council, the top…
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Banks Ramp Up Lending
EghtesadOnline: Banks and credit institutions paid 13,959.9 trillion rials ($55.8 billion) in loans to businesses in ten months since the beginning of current fiscal year that ends on March 20.…
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Majlis Allows Banks to Invest $3b in Megaprojects
EghtesadOnline: The specialized and commercial Iranian banks were allowed by Majlis to extend financial facilities worth a maximum $3 billion to finance development plans and key infrastructures.…
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Role of Banks in Weekly Bond Sale Diminishes
EghtesadOnline: Results of the recent bond auction held by the Central Bank of Iran indicate the declining share of banks and credit institutions in bond sale while stock market investors and…
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Assets on Divestiture List of Banks Valued at $3.6 Billion
EghtesadOnline: New estimations indicate banks and credit institutions affiliated to the government own non-banking assets worth 900 trillion rials ($3.6 billion), the deputy economy minister…
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Banks Obliged to Increase Lending to Housing Sector
EghtesadOnline: Parliamentarians have obliged banks and credit institutions to allot a minimum 40% of their lending facilities to the housing sector in each fiscal year.
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MRC: Mutual Funds Cut Investment in Banks
EghtesadOnline: The Majlis Research Center, affiliated to Iran's parliament, has recommended the mutual funds operating in the country's capital market to reduce their share of investment in…
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MRC: Mutual Funds Cut Investment in Banks
EghtesadOnline: The Majlis Research Center, affiliated to Iran's parliament, has recommended the mutual funds operating in the country's capital market to reduce their share of investment in…
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Gov't to Sell Stake in Refineries to 3 Banks
EghtesadOnline: Residue shares of the government in four major refineries and some state-run companies are to be sold to three semi-private banks, it was decided at a Cabinet meeting in Tehran…
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MRC Finds Flaws in Banks
EghtesadOnline: The Majlis Research Center has looked into the performance of banks in the first quarter of the current fiscal year (March 20- June 21).
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Over $300m in Loans to Virus-Hit Businesses
EghtesadOnline: Out of 533,752 businesses that registered at Kara.mcls.gov.ir and were introduced to the banks to receive government-backed coronavirus financial support, 365,841 businesses (70%…
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CBI Lends to Banks Under OMO
EghtesadOnline: The Central Bank of Iran says it lent to banks last week in need of liquidity by implementing open market operation.
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Banks Not Content With Higher Fees
EghtesadOnline: Electronic banking charges are higher than what customers pay, says the Central Bank of Iran's deputy governor for innovative technologies, elaborating the reasons behind the…
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MCC Approves CBI Proposal to Control Balance Sheets of Banks
EghtesadOnline: Iran’s Money and Credit Council, the top monetary decision-making body, approved proposals from the Central Bank of Iran to improve the balance sheets of lenders.
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Banks Notified to Adjust Forex Rates in Financial Reporting
EghtesadOnline: New exchange rates should be used by banks as the basis for converting their forex debt and assets into rial, the Central Bank of Iran said Thursday.
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In 5 Months Banks Lend $18 Billion
EghtesadOnline: Banks and credit institutions paid 5,060.8 trillion rials ($18 billion) in loans to businesses in the first five months of the current fiscal year (March 20-August 21).
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Banks Clearly Losing Traction
EghtesadOnline: Iranians’ tendency to invest in banks has declined drastically in favor of stocks and real estate markets, according to a poll by the Iran Student Polling Agency (ISPA).
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Iranian Banks Allowed to Invest in the Stock Market
EghtesadOnline: As the stock market continues to plunge, the High Council of Securities and Exchange said banks too can invest in the bourse.
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Banks Welcome Fintechs' Fee Proposal
EghtesadOnline: Contrary to authorized payment companies, banks have welcomed Iran’s Fintech Association's proposed fee system for online payment in which aggregators and service providers cover…