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 […]
Market News – “The recent directive by SEO addressing brokers to provide their clients on longer with credit lines was an absolute misunderstanding” said Rouh Allah Mirsanei the Secretary-General of Iranian brokerages association. He continued: “the previous customers credit lines bylaw is still in place and SEO is just to mitigate any unnecessary risks by simply recording each client credit […]
Money supply reached 13.9 quadrillion rials ($312.35 billion) in the second quarter of the current Iranian year to Sept. 22, 2017, marking a growth of 10.9% compared with the same period of last year. However, despite the fact that the country’s liquidity is continuing to surge, its growth ratio had significantly declined compared with the […]
With the shadow of political risks receding, investors went back to cashing in on rising global commodity prices and stocks kept growing after weeks of lackluster trade. Tehran Stock Exchange’s main index TEDPIX gained 2,738 points or 2.8% in the past trading week that ended on January 17 to close at an all-time high of […]
Market News – After 80% shares of Mellat, Saderat and Tejarat banks were divested to the private sector in mid-2000s to comply with Principle 44 of the Iranian Constitution, Iran Privatization Organization is now determined to divest the remaining state owned stakes as well, which has estimated to generate nearly $3.4 bn for the government; this, albeit, awaits the approval by the […]
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 […]
The US dollar made new gains against the rial on Wednesday, but stopped short of crossing another psychological barrier. The rial was quoted at 44,400 to the dollar in Tehran’s open market, which is slightly higher than the previous day, Tehran Gold and Jewelry Union’s website reported. The Iranian currency has hit consecutive record lows […]
Market News – On Sunday, the governor of the Central Bank of Iran (CBI) announced Iran’s Economy Growth in the first half of the current year. With a 4.6% growth in Q1 and a 4.4% growth in Q2, the country has gone through a 4.5% growth in the said period; previously, the Statistical Center of Iran had reported a 5.6% growth […]
