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 […]

Banking

Week in Brief 26.01.2018

One of the hottest topics of the week was the exchange rate for the US dollar which reached 47000 IRR on Monday. While exchange offices refused to buy and sell dollars, the Governor of the […]

Banking

No new private bank in Iran

The Central Bank of Iran will no longer issue license for new private banks and money lenders, reports Bloomberg, following the new instructions given by President Hassan Rouhani. Several of illegal financial institutions which had […]

Week in Brief

Iran Economy in Brief – No. 84

A new credit line for Iran: $10b During the last week’s visit of the Governor of the Central Bank of Iran to China, an agreement was signed to extend a 10-billion-dollar credit line between five […]