Banks
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Banks Have 4 Months to Comply With AML Rules
EghtesadOnline: The Financial Intelligence Unit (FIU) of the Ministry of Economy has called on banks and credit institutions to redefine infrastructure for effectively implement restrictions…
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BANKS 2 Check! Insurance API Gateway Not Mandatory for Now
EghtesadOnline: The head of Sanhab Company, the body in charge of managing the online database of insurance industry, says startups are not obliged to connect to the regulatory body’s central…
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Listed Banks Paid $1.4B Interest on Deposits in Q1
EghtesadOnline: According to the financial statements of 12 banks listed in the capital market, Bank Pasargad topped the list in terms of the paid returns, followed by Bank Mellat and Bank Tejarat…
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Banks Raise Fees
EghtesadOnline: New banking fees came into effect on May 7. Lenders may offer up to 30% discount on banking charges to be able to compete with their peers and offer up to 40% discount to knowledge-bas…
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Banks Sold $1.13b in Surplus Assets
EghtesadOnline: The minister of economy and finance, Ehsan Khandouzi, said the government has fulfilled its promise and transferred surplus assets of banks to the tune of 580 trillion rials ($1.13…
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MRC: Gov’t Should Be Responsible for Sale of Excess Assets of Banks
EghtesadOnline: The Majlis Research Center has proposed amendments to rules to help ease the sale of excess assets of state-owned banks.
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Banks Censured for Deflecting Marriage and Childbirth Loans
EghtesadOnline: The new CBI boss Mohammad Reza Farzin has urged parliament to take banks' shrinking resources into account before deciding the lending largesse.
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Banks Boost Lending
EghtesadOnline: Banks paid an estimated 29,719 trillion rials ($69.1 billion) in loans in the first nine months of the current fiscal year (ends in March) – up 41.9% on the same period last year.
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Iran and Russia Sign Deal to Link Banks
EghtesadOnline: The central banks of Iran and Russia Sunday signed a deal to connect their national interbank communication and transfer systems to help boost trade and ease two-way bank transactions.
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Banks Are Obliged to Give $4.9b in Mandatory Loans
EghtesadOnline: Banks and credit institutions are mandated to allocate up to 2,000 trillion rials ($4.92 billion) in interest-free lending for government programs including loans to newlyweds,…
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Banks Expected to Raise Interest Rates
EghtesadOnline: Banks say interest rates must rise to keep pace with the high and rising inflation to make deposits attractive for savers. Interest that banks now offer on deposits is, at best,…
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Banks Sell $1.8b Surplus Assets
EghtesadOnline: Bank Saderat accounted for 22% or 145 trillion rials ($408.45 million) of the assets, followed by Bank Melli with 21% or 143 trillion rials ($402.8m ), Tejarat Bank 110 trillion…
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Banks Would Do Better With REITs
EghtesadOnline: Real Estate Investment Trusts (REITs) are a great help to banks as they can diversify their portfolio and sell real estate holdings in the stock market, a capital market expert…
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Banks Start Publicly Naming Big Defaulters
EghtesadOnline: Following mounting calls for publicly naming big defaulters, several banks published lists of some debtors on Sunday and the Central Bank of Iran said more is on the way.
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CBI: No-Nonsense Approach to Banks
EghtesadOnline: The Governor of Central Bank of Iran Ali Salehabadi said the bank will undertake comprehensive reforms in the new Iranian year that started on March 21.
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Foreign Assets of Banks Rise 46%
EghtesadOnline: Foreign assets of Iranian banks reached $80 billion by the end of the tenth calendar month to Jan. 20.
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Leader Admonishes Majlis for Overloading Banks With Loans
EghtesadOnline: Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei has warned lawmakers about passing legislation that put banks under additional financial pressure.
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Banks Told to Return Seized Indebted Firms
EghtesadOnline: The Central Bank of Iran issued instructions on Saturday to banks to return seized properties to the original owners.
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Overseas Assets of Banks Up 38%
EghtesadOnline: Foreign assets of Iranian banks reached 20,733.3 trillion rials ($74 billion) by end of last November.
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Most Banks Have Shut the Door to Homeownership
EghtesadOnline: As per rules banks must earmark 20% of their loans to the housing sector; however "they show little if any interest in doing so despite the 18% return," a board member of the…
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Credibility Must Apprise Banks’ Lending Practices
EghtesadOnline: Banks must concentrate on the credit rating of customers when studying loan requests, the Central Bank of Iran’s head of information department said.
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Banks’ NPL Ratio Improving
EghtesadOnline: New data from the Central Bank of Iran show banks and credit institutions performed better in recovering non-performing loans in first half of current fiscal year ending Sep.22.…
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Economy Minister Warns Banks on Interest Rates
EghtesadOnline: In a meeting with CEOs of state-owned banks on Tuesday the Economy Minister Ehsan Khandouzi instructed them not to arbitrarily raise lending rates.
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Banks Told Not to Raise Interest Rates
EghtesadOnline: The Central Bank of Iran has again called on banks to observe regulations governing interest on deposits.
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Next Budget Sees 25% Rise in State Banks’ Net Income
EghtesadOnline: Net earnings of eight Iranian state-owned banks and the Central Bank of Iran has been forecast at 2,314.28 trillion rials ($7.8 billion) in the March 2022-23 draft budget.
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Forceful Measures to Tame Unruly Banks
EghtesadOnline: The Central Bank of Iran has announced tougher restrictions on underperforming banks as part of measures to “control money issuance” by banks.
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Banks Told to Bear With Defaulting Manufactures
EghtesadOnline: The Economy Minister Ehsan Khandouzi said manufacturing units unable to repay debts to banks should not be shut.
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Iranian Banks Pay Tech Loans Worth Over $700m in 6 Months
EghtesadOnline: Local banks have collectively paid 198.9 billion rials ($718 million) in loans to 857 knowledge-based companies and startups in the first half of the current Iranian year (March…
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Money Creation by Banks Under Strict CBI Control
EghtesadOnline: Money issuance by banks is under the stringent oversight of the Central Bank of Iran, the CBI’s head of monetary and credit operations said.
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Loans Rise 50% to $33b
EghtesadOnline: Banks and credit institutions gave 9,007.8 trillion rials ($33 billion) in loans in the first five months of the current fiscal year (March 21-August 22).