Iran banks

Iranian banks deposits at $195b: CBI

Total deposits with banks and credit institutions reached 22,165 trillion rials ($195 billion) during the fourth month (June 22- July 22) of the current fiscal year indicating 26.9% annual growth.

Financial Markets

UK government, Iran’s Bank Mellat reach $1.6bn settlement over 2009 sanctions case

The British government lawyers have reached an 11th-hour settlement with the Iranian private lender Bank Mellat to avoid court hearings over 2009 sanctions on the bank.

Financial Markets

Iran’s Bank Mellat to sue UK Treasury for 2009 sanctions

The Iranian private lender Bank Mellat will take the UK former chancellor Alistair Darling to the court to claim damages inflicted on the bank due to the sanctions it imposed on it in 2009.

Financial Markets

Iran to merge banks owned by military institutions into Bank Sepah

The banks and financial institutions were created in a bid to have control over their benefits and expenditures, breaking away from the oldest lender Bank Sepah. However, the government is trying to cut armed forces’ role in economic activities.

Financial Markets

EU eyes Iran SPV for trade before November

The European Union’s foreign policy chief, Federica Mogherini, said on Wednesday a so-called Special Purpose Vehicle (SPV) under consideration to facilitate trade with Iran could be in place “before November.”

Trade

Iran’s Bank Pasargad to open branch in India

India’s media have reported that the country has given the go-ahead to a plan to revive a banking mechanism that would allow payments to Iran for oil purchases as well as other trade activities.

Financial Markets

Credit line with Russia to boost trade: Iran minister

Iran says it expects a recent agreement with Russia over the creation of a credit line to fund Iranian projects to help promote trade between the two countries.

Financial Markets

Iran’s eximbank offers incentive package for elite exporters Irans

The Export Development Bank of Iran has devised a package of incentives to support major exporters, entrepreneurs and manufacturers, the bank’s director for branch affairs and marketing announced.

Financial Markets

Iran, Russia moving closer to integrating banking systems

Fresh indications have appeared that show Iran and Russia are moving closer to an ambitious plan to integrate their banking systems – a strategy both hope would make them immune to the financial sanctions of the United States in the future.

Financial Markets

Iran exim bank to integrate resources with NDFI

Export Development Bank of Iran–the countrys exim bank–is to integrate its resources with funds from the countrys sovereign wealth fund to allocate them as loans to Iranian exporters, EDBI’s chief executive announced.

Financial Markets