Iran Banking News

The government paid 360 trillion rials ($2.8 billion) to compensate losses incurred by the misconduct of shadow banks and unruly lenders in recent years, said Mohammad Baqer Nobakht, the…

The British government has settled a 1.25 billion pound ($1.6 billion) damages claim brought by Iran’s largest private bank in an 11th-hour, out-of-court deal following a dispute over sanctions…

Banks lent 342 trillion rials ($2.55 billion) during the first month of the current fiscal (March 21-April 20). The amount indicates 32.9% growth compared to the corresponding period in the…

The aggregate value of interbank market transactions reached 107,149 trillion rials ($792 billion) in the last fiscal that ended in March to register a solid 67% growth compared to a year ago.…

About 300,000 shareholders of merged banks affiliated to the armed forces have sold their shares since the merger process started in April, says the chief of Securities and Exchange Organization…

According to a notice by Central Bank of Iran, the previous deadline for selling shares of five merged banks and credit institutions has been extended for 15 working days ending on June 13.…

The Central Bank of Iran published a note on its website to clarify ambiguities about the one-time password that will soon be offered by banks.  It covers a range of issues pertaining to…

Banks divested over 120 trillion rials ($800 million) in surplus holdings in the last fiscal (March 2018-19), the deputy economy minister for banking, insurance and state-owned companies said.…

Banks and credit institutions continue to reduce their local branches in the past three months, although the overall cuts are not significant, IBENA reported.  A total of 23,395 branches…

The Central Bank of Iran and the prosecutor general have agreed to freeze fraudulent bank accounts that collect people's donations for the flood victims, the spokeswoman of Majlis Economic…

As part of the process of merging five banks and credit institutions affiliated to the armed forces with Bank Sepah, the shares of the lenders are sold on Sunday.   The share offer…

The Deputy for Banking and Insurance Affairs at the Economy Ministry said during the one year between December 2018-19, 100 trillion rials ($770 million) worth of excess property of banks was…

A senior former banker says the planned merger of five banks affiliated to the armed forces with the government-owned Bank Sepah can be a step in the right direction in that it would cut costs…

The Central Bank of Iran said Saturday that plans for merging five banks and credit institutions affiliated to armed forces with the state-owned Bank Sepah is in motion.  

Governor of the Central Bank of Iran Abdolnaser Hemmati says recommendations of the anti-money laundering body, the Financial Action Task Force, are part and parcel of international banking…

Banks lent 51.9 trillion rials ($384 million) to 626 knowledge-based companies by the end of the third quarter of the current fiscal on December 21.  According to data published on…

In the first ten months of the current fiscal to January 20, lenders granted 5,380 trillion rials ($ 42 billion) in loans, up 757 trillion rials ($6 billion) compared to the same period in the…

Committed to preserving historically close trade relations between Iran and Italy, private sectors from both sides have explored the setting up a small bank to side-step the new US sanctions…

Iran and Iraq signed an agreement Tuesday to establish a monetary channel for facilitating payments between the two countries.  The agreement was signed by the governors of the Central…

As part of its plans to reform the limping banking sector, the government has launched a program to sell excess property of state banks. 

The Eight Conference on Electronic Banking and Payment Systems opened at Tehran’s iconic Milad Tower on Tuesday.  The two-day event, organized by the Monetary and Banking Research…

The Majlis Research Center has a positive opinion about the government decision to launch the Open Market Operation enshrined in the next fiscal that starts in March, calling the move “a…

To claim a share of Iran’s growing fintech market, Bank Mellat has launched an innovation center to help promote the application of smart technologies in banking.

In next year's proposed budget the government is allowed to securitize up to 200 trillion rials ($2 billion) of its debts to banks.

As China’s Bank of Kunlun officially resumed its transactions with Iran after a one-month pause this week, the bank's scope of work falls short of what Iranian businesses had hoped for as the…