Iran banks
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Banks Sticking to Lower Interest Rates
EghtesadOnline: Since the implementation of the Central Bank of Iran’s directive decreeing banks and credit institutions cap their interests on one-year deposits at 15% from September 2, lenders…
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Brazil Invites Iranian Banks to Open Branches
EghtesadOnline: Iranian banks will be able to open branches in Brazil after following due process like banks of any other nation, as the Latin American country welcomes expansion of trade ties…
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Bank Ratings Coming in October
EghtesadOnline: Governor of the Central Bank of Iran Valiollah Seif has announced that the ratings of Iranian banks by a state-run entity will soon be publicized, which for the first time will…
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Productivity Protocols for Banks
EghtesadOnline: The National Iranian Productivity Organization, which works toward the promotion of productivity in various economic sectors, will help Iranian lenders maximize their efficiency,…
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Major European Banks Getting Cozier With Iranian Peers
EghtesadOnline: The multibillion dollar South Korean deal to finance Iranian projects and the recent agreement between major Iranian private banks and their South Korean counterparts to boost…
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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…
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Banks Allowed to Make Forex Market Foray
EghtesadOnline: In line with the general policy of conducting foreign exchange transactions through the banking system rather than exchange shops and stabilizing the market, the Central Bank…
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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…
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Spotlight on Major Lenders Over Delay in AGMs
EghtesadOnline: The annual general meetings of major banks and credit institutions have run into a snag, as lenders struggle to incorporate the latest standards introduced by the Central Bank…
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18.4% Rise in Banks’ Lending Portfolio
EghtesadOnline: Iranian banks allotted loans worth 1.533 quadrillion rials ($40.2 billion) to various economic sectors during the first four months of the current Iranian year (started March…
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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…
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Bounced Checks Down 5.6%
EghtesadOnline: Iranian banks returned 1.5 million checks worth 130.6 trillion rials ($3.4 billion) during the month that ended on July 22, the official website of the Central Bank of Iran reported.
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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…
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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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Banks Neutral on Rate Decision
EghtesadOnline: Iranian banks are reluctant to initiate interest rate cuts, the secretary-general of Private Banks and Credit Institutions Association said.
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Banks to Share Account Data With Tax Authorities
EghtesadOnline: As their deadline looms, banks and credit institutions are signing agreements that legally bind them to hand over information about the bank accounts of taxpayers to Iran National…
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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…
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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…
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Ukraine Seeks Linkup With Iranian Banks
EghtesadOnline: Ukrainian former president, Viktor Yushchenko, announced that his country intends to expand economic ties with Iran, for which a Ukrainian delegation is negotiating establishment…
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Bank Rating System Still Under Review
EghtesadOnline: The plan to rank Iranian banks on the basis of a new rating system is still under review and will be executed when conditions are agreeable, the director general for supervision…
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Surge in BMI Interest-Free Loans
EghtesadOnline: Bank Melli Iran has provided over four million Qarzol-Hassaneh (interest-free) loans worth 87 trillion rials ($2.3 billion) in the past four years, the bank’s website announced.
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Bank Mellat’s Seoul Branch Resumes Operations
EghtesadOnline: Bank Mellat has officially restarted work in South Korea through its branch in Seoul, Iran’s ambassador to the East Asian nation announced.
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Sina Linking Up With Foreign Banks
EghtesadOnline: Sina Bank has established correspondent relations with 25 internationally recognized banks to benefit from their international experience and provide better services to customers,…
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BMI Slimming Down
EghtesadOnline: Bank Melli Iran is set to gradually shed its excess assets currently worth 27 trillion rials ($714 million) after the clearance of legal hurdles, BMI’s deputy for logistics announced.
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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…
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Tejarat Bank’s Norway Presence Denied
EghtesadOnline: The Royal Norwegian Embassy in Tehran has denied a recent report suggesting that Iran’s Tejarat Bank is to open a branch in the Nordic country.
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Tejarat Bank Promoting Transparency
EghtesadOnline: Tejarat Bank ranks first in adhering to transparency standards, according to data released by Majlis Research Center, the bank’s chairman announced.
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Bank Loans Up 16%
EghtesadOnline: Iranian banks doled out loans worth 569.7 trillion rials ($15.1 billion) to economic sectors during the first two months of the new Iranian year (ended May 21), registering a…
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New Fees for Money Transfer to Benefit Banks
EghtesadOnline: The increase in bank fees approved earlier by the Central Bank of Iran has become effective.
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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…