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CBI Reports 28% Rise in Foreign Assets

EghtesadOnline: Data released by the Central Bank of Iran Thursday show that the regulator increased its foreign assets by 28% during the fifth calendar month ending August 22.
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Publish Date: 13/October/2018 | 07:06

IMF: Growth Prospects for Iran to Decline Over Sanctions

EghtesadOnline: The International Monetary Fund, in its latest World Economic Outlook, predicts Iran's economy will contract this year and in the following year as a result of the reimposition of US sanctions against the Islamic Republic.
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Publish Date: 10/October/2018 | 10:52

Iran's Reform Bill Targets CBI, Banking Sector

EghtesadOnline: A major part of the Comprehensive Banking Law targeting the struggling banking system and problems of the central bank has been approved, the head of the Monetary and Banking Committee of Majlis Economic Affairs Commission Mohammad Hossein Hosseinzadeh Bahraini told state TV.
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Publish Date: 10/October/2018 | 05:51

Trump Tactic to Sanction Swift May Not Work

EghtesadOnline: The Trump administration abandoned the Iran nuclear deal this year and is reimposing sanctions. The sanctions leave western companies and banks with a stark choice. If they do business with Iran, they lose access to the American market and financial system. Not surprisingly, businesses and banks have been cutting ties with Iran or shelving plans to invest there. But one important financial link to the country remains: the financial messaging service that plays a crucial role in moving money around the international banking system.
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Publish Date: 15/October/2018 | 05:59

Europe Trying to Exempt Swift From Iran Sanctions

EghtesadOnline: As the reimpostion of the second round of US sanctions draw near, European finance ministers will try to persuade the Trump administration not to cut off Iran’s access to Swift, the global financial messaging service, in meetings with Steven Mnuchin, the US treasury secretary, at the IMF gathering in Bali this week.
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Publish Date: 10/October/2018 | 05:38

$2.8b of Non-Oil Export Revenues Sold in Iran's Secondary Forex Market

EghtesadOnline: Figures from the Central Bank of Iran show that foreign currency revenues from non-oil exports from August 7 to October 3 through Nima–the Integrated Forex Deals System launched by the government after it unified the USD forex rate – reached €2.84 billion.
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Publish Date: 08/October/2018 | 08:57

US Wants ICJ to Drop Iran Frozen Asset Case

EghtesadOnline: The United States asked judges at the International Court of Justice to throw out a claim by Iran to recover $1.75 billion in national bank assets seized by American courts.
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Publish Date: 10/October/2018 | 05:35

ICJ Hearing on Iran Frozen Assets in US Begins on Monday

EghtesadOnline: The International Court of Justice (ICJ), the principal judicial organ of the United Nations, will hold public hearings in the case concerning Certain Iranian Assets (Islamic Republic of Iran v. United States of America), from October 8 to 12 at the Peace Palace in The Hague, the seat of the court, according to a statement on ICJ's website.
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Publish Date: 08/October/2018 | 08:45

Iran Parliament Passes Counter-Terror Finance Legislation

EghtesadOnline: Iranian lawmakers on Sunday approved a measure that allows Iran to formally join the International Convention for the Suppression of the Financing of Terrorism, clearing a major hurdle to improve Iran's status with the global anti-money laundering body, the Financial Action Task Force.
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Publish Date: 08/October/2018 | 08:30

Iran: SEO Working to Empower Capital Markets

EghtesadOnline: A range of new financial products, from Islamic bonds to warrants and insurance-linked securities, are being developed to help give local firms more funding options as US sanctions pile pressure on the economy.
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Publish Date: 03/October/2018 | 05:36

Iran Eyes Development of Non-Ferrous Industries

EghtesadfOnline: Non-ferrous metals and mining industries in Iran have remained relatively underrated, considering their notable share of non-oil exports—a major focus for the country, especially in view of the reimposition of US sanctions.
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Publish Date: 03/October/2018 | 05:30

Iran Energy Exchange to Start Trade in Oil Futures

EghtesadOnline: Iran Energy Exchange will launch crude oil futures from next week as part of a plan to facilitate oil exports as US sanctions targeting its energy sector in November draw nearer.
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Publish Date: 02/October/2018 | 06:08

Iran's Aluminum Production Registers 10% Growth

EghtesadOnline: Aluminum production by Iran’s major producers reached 151,691 tons during the five-month period (March 21-Aug. 22), registering a growth of 10% compared with the same period of 2017, the Iranian Mines & Mining Industries Development & Renovation Organization announced in an official statement.
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Publish Date: 02/October/2018 | 06:02

Iran's CB: New Route to Help Meet Currency Needs

EghtesadOnline: Plans are underway for eleven agent banks to sell foreign currency to non-commercial, everyday purposes as part of a new mechanism to reform the volatile currency market, says Mehdi Kasraei-Pour, head of CBI's Department for Forex Polices and Regulations.
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Publish Date: 01/October/2018 | 05:13

Iranian Lawmakers Expected to Approve CFT Bill

EghtesadOnline: Lawmakers will deliver their final view Sunday on a government bill allowing Iran to join the international Convention for Combating Financing of Terrorism, said the Majlis National Security and Foreign Policy Commission spokesperson Ali Najafi Khoshroudi.
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Publish Date: 30/September/2018 | 05:34

Thermal Power Plants Now No More Viable in Iran

EghtesadOnline: In a water-stressed country like Iran generating electricity via thermal power plants which consume massive amounts of water cannot be a viable option anymore.
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Publish Date: 29/September/2018 | 14:00

Iran’s CB Allowed to Intervene in Forex Market

EghtesadOnline: The government on Saturday authorized the central bank to intervene in the foreign exchange market to prop the rial after the currency fell to record lows in recent weeks against major currencies.
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Publish Date: 30/September/2018 | 05:42