Iran banks

Iran urges ACU member states to trade in local currencies

Governor of the Central Bank of Iran (CBI) has underlined the need for the member states of the Asian Clearing Union (ACU) to trade in their national currencies and other not commonly used currencies.

Financial Markets

Tehran to host 51st ACU Summit on May 23-25

Asian Clearing Union (ACU) will hold its 51st summit in Tehran on May 23-25, says an official from the Central Bank of Iran (CBI), amid efforts to expedite de-dollarization plans in the continent.

Financial Markets

Iran, Russia banks set to link messaging systems: Ambassador

Iranian Ambassador to Russia Kazem Jalali has said that Iran and Russia have begun pilot linking of their banking messaging systems and will finalize the scheme soon.

Financial Markets

Interest rates in Iran rise to all time high of 25%

Some state banks have started offering higher interest rates on deposits even though the Central Bank of Iran has not yet approved the increase, media reports in Tehran said Monday.

Financial Markets

Iranian banks’ foreign assets hit $74 billion

Foreign assets of Iranian banks reached 20,733.3 trillion rials ($74 billion) by end of last November.

Macro Economy

Iran electronic payment value up 82% YoY

An estimated 2.89 billion transactions worth 4,769.01 trillion rials ($20.7 billion) were processed via Shaparak in the fifth month of current Iranian year (July-22- August 21) showing 82.25% hike in the value of transactions compared to same period last year.

Financial Markets

Iranian PSPs process over 2.7 billion transactions in 1 month

The latest monthly performance report of Iran’s e-payment network shows that more than 2.73 billion transactions worth of 3,886.38 trillion rials ($16.8 billion) were processed by the national retail payment network Shaparak in the third Iranian calendar month (21 May-June 21).

Financial Markets