The Organization for Economic Cooperation and Development (OECD) has unsurprisingly upgraded Iran’s rating in the country risk classifications of the Participants to the Arrangement on Officially Supported Export Credits (CRE) from 6 to 5. The long-awaited upgrade was announced following the organization’s last meeting on Friday. The last upgrade in Iran’s rating goes back to June 2016, […]
The Ministry of Industries, Mining and Trade issued 3,235 industrial permits across the country in the first seven months of the current Iranian year (March 21-Oct. 22, 2017). Establishment permits and Development permits accounted for 1,786 and 1,449 of the total sum respectively, IRNA reported. The estimated amount of investments required for these projects stood […]
After days of rallying against the rial in Tehran’s foreign exchange market, the US dollar is showing signs of losing momentum. On Wednesday, the rial was quoted at 45,720 to the dollar in the open market, slightly down from Tuesday’s close and below the psychological threshold of 46,000. The rial had dropped to around 46,500 […]
Market News – Today a new issue of Iranian Islamic Treasury bills offered to public on Iran Fara Bourse in an attempt to continue the settlement of Iranian government liabilities with the help of Iran debt market. These securities worth 10,000 bn (cUSD 219.78 mn) and will be matured in two years. “TB181” priced at 772,258 to have a YTM of 16.31% and […]
The share of digital transactions in Iran has reached 10% of the total volume of liquidity in the country by the end of the seventh month of the current fiscal year on Oct. 22. Shaparak, Iran’s payment and settlements network, announced this as part of its latest monthly report announced by IBENA. According to the […]
The second and final day of the biggest electronic banking event in Iran featured several international keynote speakers, included several side events and workshops, on Tuesday. While the opening day of the Seventh Conference on Electronic Banking and Payment Systems organized by the Monetary and Banking Research Institute was attended by several high-level officials, the […]
Tehran’s iconic Milad Tower on Monday hosted one of the largest banking event of the year, which whole-heartedly supported financial technology and innovative solutions to succor an economy centered on a besieged banking system in dire need of reforms. The Seventh Conference on Electronic Banking and Payment Systems was opened by Ali Divandari, director of […]
Iran’s sovereign-wealth fund has approved more than $36 billion in foreign exchange loans since its inception about six years ago until the third quarter of the current fiscal year to Dec. 21. The latest performance report published by the National Development Fund of Iran indicates that $34.4 billion of the approved resources were allocated and […]
Market News – Following the recent FX upward trend in Iran’s Economy, the USD/IRR started a rally on Sunday to surpass 46,400 level, going up by IRR 950, pushing the IRR towards record lows falling 1.4% just in a matter of few days. Euro and British Pound also took a hike against IRR to stand at 58,500 and […]
With the next plenary meeting of the intergovernmental Financial Action Task Force in sight, which will also rule on Iran’s cooperation with the anti-money laundering body, the country could count on another European state to defend its record in implementing anti-money laundering measures and combating terrorist financing. In a meeting with Central Bank of Iran’s […]
