Banks
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96 Million Bank Cards Active in 1 Month
EghtesadOnline: Out of 340.6 million cards issued by banks more than 96.9 million, including debit cards, credit cards and gift cards, conducted at least one transaction during the first month…
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Taxman Will Look Closer at Banking Transactions
EghtesadOnline: In a directive to banks and credit institutions, the Central Bank of Iran obliged lenders to report banking transactions of tax payers to the Iran National Tax Administration…
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OTP Not Mandatory For Minor Transactions
EghtesadOnline: The Central Bank of Iran published a note on its website to clarify ambiguities about the one-time password that will soon be offered by banks.
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SSO Owes $2.5b to Banks
EghtesadOnline: Iran Social Security Organization owes 400 trillion rials ($2.58 billion) to banks, SSO’s deputy for economic and planning affairs said.
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Iran's Bank Branch Closures Continue
EghtesadOnline: Banks and credit institutions continue to reduce their local branches in the past three months, although the overall cuts are not significant, IBENA reported.
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Majlis: Compound Interest Is a Problem
EghtesadOnline: The Majlis has asked the government to eliminate the policy of compound interest rates in banks to help promote domestic production, and the Rouhani administration is expected…
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Properties of Banks Sold for $770m
EghtesadOnline: The Deputy for Banking and Insurance Affairs at the Economy Ministry said during the one year between December 2018-19, 100 trillion rials ($770 million) worth of excess property…
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5 Armed Forces-Linked Banks to Merge
EghtesadOnline: The Central Bank of Iran said Saturday that plans for merging five banks and credit institutions affiliated to armed forces with the state-owned Bank Sepah is in motion.
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Banks Lend $42 Billion in 10 Months
EghtesadOnline: In the first ten months of the current fiscal to January 20, lenders granted 5,380 trillion rials ($ 42 billion) in loans, up 757 trillion rials ($6 billion) compared to the same…
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Iranian Banks Need to Boost Capital: MRC
EghtesadOnline: The Majlis Research Center has called on the government and monetary regulators to boost the capital buffers of banks to help them cope with recession that observers predict will…
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Bonds to Be Accepted as Collateral by Iran Banks
EghtesadOnline: The Central Bank of Iran has sent a directive to banks and credit institutions obliging agent banks to accept Islamic bonds as collateral from contractors of development projects.
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Iran Banks Scrap Overnight Interest Rates
EghtesadOnline: A new decision approved by the Money and Credit Council obliges banks and credit institutions to pay interest on deposits on a monthly basis, calculating the minimum balance in…
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National Development Fund of Iran Lends $4.7b to Banks
EghtesadOnline: The National Development Fund of Iran deposited 50 trillion rials ($471 million) with agent banks in the first eight months of the current fiscal that ends next March .
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Iranian Banks Lend $27 Billion in 7 Months
EghtesadOnline: Iranian banks and credit institutions lent 3.58 quadrillion rials ($27.33 billion) to various sectors during the first seven months of the current fiscal that ended on October…
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CBI Frets Over Debt of Non-Gov’t Banks
EghtesadOnline: The Central Bank of Iran in its latest report said debts of banks and credit institutions to the CBI totaled 1.5 quadrillion rials ($11.32 billion) in the calendar month September…
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Iran's EGFI Expands Operations to Support Regional Trade
EghtesadOnline: As reimposed US sanctions restrict Iranian banks, the Export Guarantee Fund of Iran is set to expand operations to better support the country's exports, especially with regional…
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Iran Banks to Use National Crytptocurrency
EghtesadOnline: Developed by the Informatics Services Corporation at the behest of the Central Bank of Iran, the banking system is planning to make use of a national cryptocurrency.
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US Decision to Keep Iran in Swift Seen as a Compromise
EghtesadOnline: Sanctions on Iran’s banks, oil exports, ships and ports, lifted in 2015 as part of a nuclear weapons agreement that Trump abandoned in May, will be reimposed on Monday. But it…
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Iranian Gov’t Bodies, Banks Allowed to Issue Bonds
EghtesadOnline: The government has outlined new tasks for state-owned companies, banks and for-profit institutions as part of a directive for the next fiscal (March 2019-20) budget.
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Iran Negotiating With Iraqi, Afghan Banks to Maintain Rising Trade
EghtesadfOnline: Negotiations are underway with banks in Iraq and Afghanistan for enabling Iranian private sector players to repatriate their export yields as per the law and maintain trade,…
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Iranian Banks Lending More to Services, Industrial Sectors
EghtesadOnline: Banks and credit institutions lent 3.03 quadrillion rials ($22.13 billion) to various sectors during the first six months of the current fiscal that ended on September 22, the…
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Iranian Banks Lend $16.8 Billion in 5 Months
EghtesdaOnline: Banks and credit institutions allocated 2.4 quadrillion rials ($16.82 billion) to various sectors during the first five months of the current fiscal that ended on August 22, the…
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Liquidity Trend Bodes Ill for Bank Lending
EghtesadOnline: A look at the balance sheets of Iranian banks and credit institutions shows that their capacity to create money and allocate credit has been significantly influenced by the current…
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Rial’s Slide Necessitates Bank M&A
EghtesadOnline: A senior banking official said the steep fall in the value of rial against the US dollar has strained banks’ balance sheets by dealing a blow to their capital levels.
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Iranian Banks Urged to Help Control Liquidity
EghtesadOnline: Governor of the Central Bank of Iran Abdolnasser Hemmati late Monday met with chief executives of banks and credit institutions to evaluate the country’s monetary and banking…
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Banks Lagging Behind AGM Schedule
EghtesadOnline: More than a month has passed since the July 22 deadline set for Iran’s banks and credit institutions to finalize their financial statements and hold their annual general meetings,…
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Iran's Sovereign Wealth Fund Allocates $15b to 20 Banks in 4 Months
EghtesadOnline: Iran's sovereign wealth fund entrusted $15 billion in foreign currency resources to state-run and private banks in the first four months of the current fiscal year (March 21-July…
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30 Major Coin Purchases Funded by Six Banks
EghtesadOnline: Tehran Prosecutor Abbas Jafari Dolatabadi said investigators in a high-profile probe to crack down on suspected fraud in the gold coin market have traced the means to fund the…
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Iran Tax Administration’s Warning to Banks Withholding Customer Data
EghtesadOnline: The Iranian National Tax Administration’s special prosecutor has threatened banks and credit institutions with legal action, if they fail to share the data of their customers…