Banking

Travelers can carry only 5000 euros

This week, the Central Bank announced that travelers abroad can carry up to 5000 euros in cash out of the country and sums greater than 5000 euros must be declared at the airport or border. […]

Markets in Brief

Markets in Brief 27.04.2018

The Securities and Exchange Organization (SEO) announced a new cap for the investment funds; the new funds must start with an initial capital of 5000 billion IRR ($119) and they can increase their fund only […]

Week in Brief

Week in Brief 27.04.2018

In a ceremony introducing the NIMA currency system, Vice President, Eshaq Jahangiri emphasized the Government’s decision to control the currency market even if some people may be planning to disrupt financial stability. He mentioned the […]

Week in Brief

Week in Brief 20.04.2018

A week ago, the government set a unified market rate for the US dollar, after decades, which could be seen as a positive development. However, the rate at 42 thousand IRR per USD seems unrealistic […]

Week in Brief

Week in Brief 13.04.2018

As soon as the new year holidays were over, devaluation of Rial was resumed. The exchange rate for one USD at market price reached 62000 IRR, making the gap between the unofficial and official exchange […]

Banking

Merger of of financial institutions

Mehr Eqtesad Financial Institute and Samen Credit Institution will be merged into Ansar Bank. Hamshahri announced the end of the first phase disbanding illegal financial institutions by the end of the month. In the second […]

Banking

Markets in Brief 02.03.2018

Tehran Stock Exchange experienced some rather non-exciting days over this week. The overall index, TEPIX, dropped several times and closed at 97,961 points on Wednesday afternoon, 0.2 percent less than a week ago. It is […]

Financial Sector

USSD codes use to be stopped

While the infrastructure for money transfer with USSD codes were quickly developing, the Central Bank has announced that until such time that operators can guarantee the security of these services, the use by customers should […]

Banking

Chinese banks’ share acquired by Iranians

Akhbar Sannat newspaper quotes the Head of the Iran and China Chamber of Commerce, Asadollah Asgaroladi, announcing the Central Bank of China’s agreement and issuing of licenses for the Iranian private sector to purchase up […]