Banks
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Banks Need to Shed 10,000 Branches
EghtesadOnline: There are more than 22,000 bank branches in Iran, about half of which are not needed, a deputy minister of economy said on Sunday.
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Central Bank of Iran: Bank Deposits at $195b
EghtesadOnline: Total deposits with banks and credit institutions reached 22,165 trillion rials ($195 billion) during the fourth month (June 22- July 22) of the current fiscal year indicating…
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Obligatory OTP Service of Banks Suspended
EghtesadOnline: Governor of the Central Bank of Iran says making the one-time password mandatory for banks is not possible now due to the problems of both lenders and customers.
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Banks Face Limits in Boosting Capital
EghtesadOnline: Banks and credit institutions in Iran are facing a myriad of challenges including cumbersome regulations and technical issues to boost capital through revaluation of their assets,…
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Banks Lend $34 Billion in 6 Months
EghtesadOnline: Banks and credit institutions in Iran lent 3,821 trillion rials ($34.1 billion) during the first six months (March 21-Sept. 22) of the current fiscal year.
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Central Bank of Iran Further Tightens Anti-Money Laundering Rules
EghtesadOnline: An executive bylaw of the Central Bank of Iran has made it mandatory for banks and credit institutions to create special units to deal exclusively with possible money laundering…
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National Development Fund of Iran Lends $4.9b in 3 Months
EghtesadOnline: The National Development Fund of Iran, the country’s sovereign wealth fund signed 15 agency contracts with banks to pay $5.8 billion in foreign currency loans during the first…
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Cyber Insurance Planned for Banks
EghtesadOnline: Central Insurance company of Iran (CII), the regulatory body of Iran’s fast growing insurance industry, is working on a scheme to cover bank accounts against cyberattacks.
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Bankers Want to Delay Reforms
EghtesadOnline: In a recent meeting with lawmakers, chief executives of banks expressed their opposition towards implementation of banking sector reforms.
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An Overview of Iranian Banks’ Tech Priorities
EghtesadOnline: Iran’s banking sector, for a variety of reasons, has failed to keep up with the rapid pace of technological advancement in most countries since early 2000. However, lenders have…
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Central Bank of Iran Restricts Ownership of Banks’ Shares
EghtesadOnline: In line with efforts to help promote corporate governance and protect the rights of bank depositors and shareholders, the Central Bank of Iran has announced restrictions on ownership…
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Bank Deposits in Iran Grow 26% YOY
EghtesadOnline: During the calendar month to June 22, total deposits with banks and credit institutions reached 21,765 trillion rials ($190.09 billion), up 26.6% year-on-year.
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Banks to Dispose Spare Assets Worth $5.6 Billion
EghtesadOnline: Banks are set to dispose of assets to the tune of 600 trillion rials ($5.6 billion) by the end of the fiscal year (March 2020), a deputy minister of economy told a press conference…
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Iran Tax Office: Banks Obliged to Report Financial Statements of Clients
EghtesadOnline: To help bolster government efforts to modernize the ageing tax regime, banks have been ordered to send data on the financial transactions of tax payers to the Iranian National…
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Central Bank of Iran Ties Lending to Rating Report
EghtesadOnline: In a directive to banks and credit institutions, the Central Bank of Iran has obliged borrowers to submit credit rating reports from relevant rating companies.
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Banks in Iran, Russia Connected via Non-SWIFT Financial Messaging Service
EghtesadOnline: Governor of the Central Bank of Iran says Iran and Russia have connected their financial messaging services to handle two-way banking transactions.
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EU Banks to Join INSTEX
EghtesadOnline: The new head of INSTEX, Michael Bock, who was in Tehran this week, says some small European banks are willing to join the barter trade mechanism.
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Bank Loans in Iran Rise 30%
EghtesadOnline: Banks paid 2,188 trillion rials ($19.3 billion) in loans during the first four months of present calendar year to July 22.
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Industries Financed Mainly by Lenders
EghtesadOnline: Banks met nearly 57% of industrial units' capital need in the last Iranian fiscal year (ended March 2019), says a deputy minister of industries.
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Partnership Loans Attractive
EghtesadOnline: Data about loans given by banks and credit institutions based on different Islamic banking contracts show “partnership loans” had the biggest share by the end of the third quarter…
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Lenders Responsible For Failure to Launch OTP
EghtesadOnline: In a directive to banks and credit institutions, the Central Bank of Iran has warned that lenders would be held responsible for any loss resulting from their negligence to activate…
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Merging Process of Military Banks Making Progress
EghtesadOnline: The plan to merge five military-affiliated banks and credit institutions has entered the next phase after majority ownership of the merging entities was transferred to state-run…
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Banks in Iran Record Double Digit Growth in Deposits
EghtesadOnline: Total deposits with Iranian banks and credit institutions stood at 21,311.2 trillion rials ($190.27 billion) at the end of the second calendar month to May 21, according to a…
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239m Bank Cards Unused in 1 Month
EghtesadOnline: Out of a total of 341 million cards issued by Iranian banks by the end of calendar month to July 22, card holders conducted at least one transaction with 101.2 million cards during…
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Banks’ Surplus Assets Fall Out of Favor
EghtesaadOnline: While the government insists on lenders to get rid of their surplus properties, it seems that this is better said than done.
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Military Banks Merger in Progress
EghtesadOnline: The merger of five banks and credit institutions -- affiliated to military forces – with the state-owned Bank Sepah is in progress with the major tasks completed, CEO of the…
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Central Bank of Iran Reports Growth in Deposits, Loans
EghtesadOnline: A report on loans made by and deposits with banks and credit institutions says total deposits stood at 20,825 trillion rials ($173 billion) at the end of the first calendar month…
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Banks to Help Lift Iran's Housing Industry
EghtesadOnline: As home prices continue to rise, the housing sector has resorted to banks to help restore the ailing industry hit by stagflation.
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Iran: Bank Deposits Rise 25%
EghtesadOnline: The latest data on deposits with banks and credit institutions indicate that total deposits stood at 20,673 trillion rials ($159 billion) by the end of the previous fiscal year’s…
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Central Bank of Iran Says Bank Deposits Growing
EghtesadOnline: Deposits in Iranian banks and credit institutions totaled 20,223 trillion rials ($155 billion) during the eleven-months to Feb 19, up 32% compared to the same period a year ago.