Iran banks
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Iranian-European banks to establish long-term ties soon
EghtesadOnline: Long-term relations between Iranian and European banks are expected to develop especially in financing civil engineering and production projects, Governor of Central Bank of Iran…
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Forex Transactions of Bank Melli Reach €10b
EghtesadOnline: Bank Melli Iran has recorded a good year in its international dealings with the volume of foreign exchange transactions reaching "about €10 billion" during the previous fiscal…
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BMI to Open Najaf Branch
EghtesadOnline: In line with Bank Melli Iran's activities in Iraq, the bank is going to open a branch in the shrine city of Najaf in the near future while starting a branch in Karbala is also…
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Banks Obliged to Establish Risk Department
EghtesadOnline: The Central Bank of Iran has urged banks to set up a compliance risk department in line with Basel II Accord issued by the Basel Committee on Banking Supervision in June 2004,…
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30 Percent Leap in Bank Loans
EghtesadOnline: Iranian banks allocated 5,484 trillion rials ($146.2 billion) to various sectors during the fiscal year that ended on March 20, 2017, registering a growth of 1,310 trillion rials…
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$1.4b in Debt Penalty Waiver
EghtesadOnline: By the end of the previous Iranian year (ended March 20), about 22,500 billion rials ($0.6 billion) were allocated to the banking system to waive late payment penalties and they…
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Banks’ Lending Up 40%
EghtesadOnline: Iranian banks' loan portfolio expanded by 40% during the year to March 20 despite grappling with a credit shortage, said the governor of the Central Bank of Iran.
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Iranian Banks Speed Up Bad Loan Recovery
EghtesadOnline: Since February 2017 when the Cabinet first approved that penalties for non-performing loans will be waived for loans up to 1 billion rials ($28,178), about 8 trillion rials ($213…
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Banks Refocusing on Production, Employment
EghtesadOnline: The Iranian banking system will focus on increasing production and improving employment in the current fiscal year in line with the guidelines provided by the Leader of Islamic…
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Iranian Banks' L/C Boom in Post-Sanctions Era
EghtesadOnline: The Ministry of Economy has published the details of letters of credit and banking guarantees that Iranian banks allocated over the past few years, which marks the progress of…
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Iranian Government Reduces Bank Arrears by $3.5b
EghtesadOnline: The government has cleared 132 trillion rials ($3.5 billion) of its arrears to the banking system while increasing its capital to public-sector banks by 242 trillion rials ($6.4…
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Rumors of Banks’ Bankruptcy Rejected
EghtesadOnline: Contrary to recent reports, Iranian banks have not gone bust but are in fact mired in faulty regulations, the secretary-general of the Private Banks and Credit Institutions Association…
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Restrictions on Bank Saderat branch in Paris removed
EghtesadOnline: French Central Bank lifted restrictions on Iran’s Bank Saderat branch in Paris, paving the way for normal banking transactions in the branch.
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Tejarat Relisting Challenge Denied
EghtesadOnline: The General Court of the European Union has dismissed Tejarat Bank’s challenge to an EU decision to relist it back in 2015.
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Iranian Lenders Hobbled by Big Bank Qualms
EghtesadOnline: Iran's banking network has historically had a robust presence in Europe, offering services to Iranian merchants and facilitating trade transactions between the European Union…
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Foreign Assets of Banks Up 6%
EghtesadOnline: Data released by the Central Bank of Iran for the month ending January 19 put banks’ total foreign assets at 2.3 quadrillion rials ($61.5 billion) by January 19, marking a 6%…
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ICCIMA Chief Advocates Mergers in Banking Sector
EghtesadOnline: Iran's economy does not have the capacity for so many banks and credit institutions and hence the idea of merging them should be considered, the head of Iran Chamber of Commerce,…
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Directed Credit Schemes Face Prosecution
EghtesadOnline: The Tehran prosecutor general has spoken out against directed credit schemes by banks, stressing that loan allocation violations must be reviewed by the experts.
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Komijani Downplays Banking Woes
EghtesadOnline: The Iranian banking system is not bankrupt, contrary to some reports and the Central Bank of Iran is in control, the vice governor of CBI said.
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Bank Sepah int'l branch in London resumes activity in post-JCPOA
EghtesadOnline: Bank Sepah international London-based branch alongside the other European branches have started to render banking services in the international scene, especially to the Iranian…
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Penalties Account for 50% of Banks’ Income
EghtesadOnline: More than 50% of many banks’ income are generated through penalty fees while this way of allocating loans will amount to a compound interest, said a member of Iran Chamber of…
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More Transparency Measures for Banks, Gov’t Entities
EghtesadOnline: Lawmakers passed a measure on Sunday, based on which all banks must conduct their business under the watchful eye of the Supreme Audit Court.
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No Bank Facilities for Non-Transparent Firms
EghtesadOnline: Banks and credit institutions have been ordered not to extend any kind of banking services to businesses that have not presented their balance sheets, announced the head of Majlis…
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Suspicious Bank Activities Under Scrutiny
EghtesadOnline: A new directive concerning direct tax regulations has been issued, which enables the Iran National Tax Administration to identify taxpayers and their incomes, announced an official…
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Banks Rapped Over Penalty Waiver
EghtesadOnline: A member of Majlis Economic Commission has criticized the poor execution of a Central Bank of Iran directive by the banking network.
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Troubled Banks Unleash Rout at TSE
EghtesadOnline: The stock market was quite eventful during the Iranian month of Bahman (January 20-February 18).
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Banks Urged to Pursue Profitability, Transparency
EghtesadOnline: In order to have a healthy bank, branch managers ought to ensure the bank's profitability while abiding by the law and observing transparency. Farshad Heydari, the Central Bank…
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Iranian Banks Register 27% Growth in Term Deposits
EghtesadOnline: The total volume of term deposits in the Iranian banking system reached 9,605.5 trillion rials ($251.78 billion) by the end of the third quarter of the Iranian fiscal year (December…
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Capital Increase for Iran's Agriculture Bank
EghtesadOnline: Bank Keshavarz Iran (Agriculture Bank) will receive its share from the government’s plan to increase the capital of public-sector banks by the yearend, announced the minister…
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Bank of Industry and Mine Gets Capital Boost, Touts Job-Creation Plans
EghtesadOnline: The government's measures to plump up the capital cushion of public-sector banks will see the capital of Bank of Industry and Mine rise to 60 trillion rials ($1.5 billion), announced…