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Zarif response to sanction of CBI Chief

Zarif response to sanction of CBI Chief

Javad Zarif has commented on the sanctioning of the Central Bank of Iran Chief, Valiollah Seif by the US, saying: “This is yet another illegal move by the US, like all its other moves.”  

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Banks to exchange currency for tourists

Banks to exchange currency for tourists

The Central Bank of Iran (CBI) has issued a memo allowing all banks and credit institutions to buy currency from foreign tourists, foreign lorry drivers in transit, foreign investors, diplomats residing in Iran, and representative offices of foreign banks, with written requests at prices announced daily by the CBI. They can sell the currency within the forex market regulations in Iran.

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Euro to become the official foreign currency used in Iran

Euro to become the official foreign currency used in Iran

Currency fluctuations over the past months in Iran, especially in recent days, has prompted the government to make new policies in order to control the forex market here. It has taken immediate action by setting a single price of tomans 4200 for the US dollar; but, reports indicate exchange offices are refusing to sell the dollar at this price and all exchanges have come to a halt.  

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US dollar order registrations banned in Iran

US dollar order registrations banned in Iran

The Central Bank of Iran (CBI) announced today, 28 February 2018, that orders will no longer be registered using the US dollar. However, this is not an ex post facto law for those orders that have received their 8-digit registration licenses prior to the above-mentioned date.  

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Iran seeking alternative trade hub to Dubai

Iran seeking alternative trade hub to Dubai

Following new tensions between Iran and the UAE, Tehran is seeking to downgrade Dubai as its regional trading hub and replace it with Qatar and Oman. The Financial Tribune writes that Iran’s recent decision has been taken following new pressures and restrictions by UAE and Dubai officials imposed on Iranian businessmen by ratifying new VAT laws, restricting visas, and limiting banking facilities.  

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Consequences of police entering Iran currency market

Consequences of police entering Iran currency market

The currency exchange rate has been fluctuating sharply on the Iranian market over the past few months. Although this had remained fairly stable during President Rouhani’s first term in office, the price of the dollar and other foreign currencies rose sharply in the past weeks, depreciating the Iranian rial by up to 25 percent.  

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Iran economic & banking delegation in France

Iran economic & banking delegation in France

Seyed Abbas Araghchi, political deputy at the Ministry of Foreign Affairs of Iran, is leaving for Paris today with a high level delegation of economic and banking officials to take part in the 2nd Euromoney Conference and conduct political and economic talks with French officials.  

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Negotiating Iranian bank branches in Switzerland

Negotiating Iranian bank branches in Switzerland

At a meeting with the Swiss Ambassador in Tehran, the CBI Chief requested the cooperation of the Swiss National Bank (SNB) and their Supervisory Authority to speed up the process of issuing licenses for Iranian banks to open branches in Switzerland.

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German Ambassador: Iran economic growth a dream

German Ambassador: Iran economic growth a dream

At a meeting with the German Ambassador to Iran, CBI Chief said: “European banks are cautious about working with Iran and US interference continues. We must elucidate the situation and analyze the risks to ameliorate relations.”

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USD 40BN finance by China for Iran

USD 40BN finance by China for Iran

The Chief of the CBI has announced a USD 40BN finance for Iran by Chinese banks. Valiollah Seif added: “Negotiations are underway with the Chinese. One of the positive steps taken is the excellent financial lines that the Chinese are considering to use in Iran to carry out investment projects, some of which have already been signed and some are being discussed.”  

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Brokerage between Iran-Qatar banks begins

Brokerage between Iran-Qatar banks begins

Seven months after the start of crisis between Qatar and the Persian Gulf Arab states, a number of Iranian private banks have recently established ties with the Qatar National Bank (QNB) and opened accounts to serve Iranian and Qatari businesses.  

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Bahmani: I had no contact with Reza Zarrab

Bahmani: I had no contact with Reza Zarrab

Mahmud Bahmani, CEO of the CBI in Ahmadinejad’s cabinet has denied Zarrab’s comments that they met at the time. In an interview with ISNA New Agency, the former CBI Chief stated that he never met the Iranian-Turkish businessman, Reza Zarrab, and added: “I don’t believe Mr Ahmadinejad met him either.”

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