Banking Transactions

By: Mahnaz Abdi

Banking system reform: improving or interrupting?

TEHRAN, Oct. 11 (MNA) – Last week, Iranian Finance and Economic Affairs Minister Farhad Dejpasand announced that a plan for reforming the country’s banking system has been prepared by the ministry and handed over to President Rouhani in late September.

Eight foreign banks join Russian transfer system

TEHRAN, Oct. 05 (MNA) – Eight foreign banks have signed up for the Russian version of the worldwide payments system Swift, launched to bypass US sanctions, according to the Central Bank of Russia.

Four Iranian banks listed among top Islamic Banking

TEHRAN, Sep. 29 (MNA) – In the latest analysis released on the Islamic financial market, names of four Iranian banks were listed among top finance and credit institutions in the Islamic banking industry.

Russia, Iran coordinating their payment systems as SWIFT alternative

TEHRAN, Sep. 14 (MNA) – Russia and Iran are organizing cooperation between the Russian financial messaging system and Iran's Electronic Financial Messaging System (SEPAM) as an alternative to making payments through SWIFT for protection against third countries' sanctions, Russian presidential aide Yury Ushakov told reporters Friday.

Iran to open bank branch in India to boost trade: report

TEHRAN, Aug. 30 (MNA) – Iran will reportedly open a branch of its Bank Pasargad in India in the next 2-3 months to help boost trade between the two nations to bypass the US unilateral economic sanctions which have blocked international banking channels.

Launch of banking messengers parallel to SWIFT, promotion of monetary treaty, ‘essential’

TEHRAN, Jul. 22 (MNA) – Member of Parliament Economic Commission Mahmoud Bahmani said Monday that launch of banking messengers parallel to SWIFT (Society for Worldwide Interbank Financial Telecommunications) and development of monetary treaty in the country is essential, the issue of which should be followed up seriously.

Non-oil exports can meet Iran’s foreign exchange demands

TEHRAN, Jul. 07 (MNA) – An official in charge of banking system of the country said on Sunday that export of non-oil commodities can meet foreign currency needed in the country.

Iran, Turkey ditched dollar for 35% of trade last year: Zarif

TEHRAN, Jul. 01 (MNA) – Iranian Foreign Minister Zarif, while stressing the dwindling power of US dollar in international transactions, said Iran and Turkey used national currencies for 35% of their bilateral trade last year.

Anzali to host exhibition on investment opportunities

TEHRAN, Jun. 08 (MNA) – The first 'Exhibition on Investment Opportunities and Export Capabilities' will be held on 27-30 August 2019 in Anzali Free Zone.

Pakistani businessmen call for creating a banking channel for trade with Iran

TEHRAN, Jun. 01 (MNA) – The members of Quetta Chamber of Commerce and Industry called on Pakistani and Iranian authorities to open a banking channel between the neighboring countries to facilitate bilateral trade.

We expect more from Finland than joining INSTEX: parl. delegation

TEHRAN, Jun. 01 (MNA) – An Iranian parliamentary delegation in Finland says Tehran’s expectations from Helsinki goes beyond the European country’s activities within the special purpose vehicle INSTEX, which aims to facilitate trade between the EU and Iran.

SNSC spox:

Iran's reduction of JCPOA commitments to be regularly reported

TEHRAN, May 28 (MNA) – The Supreme National Security Council (SNSC) Spokesman Keivan Khosravi on Tuesday said that the country's steps to reduce a portion of its commitments to the nuclear deal will be regularly reported.

 CBI outlines 6 tactics to neutralize US economic pressure

TEHRAN, May 03 (MNA) – Governor of the Central Bank of Iran has outlined six strategies to counter and neutralize the US economic pressures and rein in inflation.

FDA head hopes Brazilian banks could help Iran in meeting medical needs under sanctions

TEHRAN, Apr. 28 (MNA) – The head of Food and Drug Administration of the Islamic Republic of Iran(FDA) says that Iran needs help with its purchase of drugs and medical equipment, expressing hope that Brazilian banks can help in the regard.

Pakistani exporters suggest using Chinese bank for trade with Iran

TEHRAN, Apr. 22 (MNA) – Pakistani exporters wish to use third party banking channels, especially the Chinese banks, to do trade with Tehran since Pakistan has a paltry $35 million exports to Iran due to the US sanctions imposed on the neighboring country.

Iran, Syria to reduce customs duties to zero

TEHRAN, Mar. 11 (MNA) – The charge de affairs of Syria has invited Iranian investors to take part in Syria’s reconstruction, saying that the two countries are planning to reduce the current 4% customs duties to zero in near future.

Iraq to continue energy imports from Iran despite US sanctions

TEHRAN, Feb. 21 (MNA) – Iraq is close to finalizing a deal that will allow it to import Iranian energy despite American sanctions based on a non-dollar mechanism, an Iraqi official has said.

Iran, Russia ditch dollar in bilateral trade relations: Russian envoy

TEHRAN, Feb. 06 (MNA) – Russia’s Ambassador to Iran has said that Moscow and Tehran have given up the US dollar in settlement payments and planned to shift completely to national currencies, with euro to be used if there are no other options.

Iran, Iraq agree on mechanism to remove payment obstacles

TEHRAN, Feb. 06 (MNA) – Iran and Iraq signed an agreement late Tuesday on a payment mechanism to remove the obstacles blocking the settlement of Baghdad’s debts to Tehran.

Iran, India prepare mechanism for banking transactions

TEHRAN, Jan. 01 (MNA) – The Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati met with the India’s Ambassador to Iran Saurabh Kumar to discuss the latest developments in bilateral banking and trade relations.

Intelligence Ministry dismantles criminal network

TEHRAN, Dec. 25 (MNA) – Intelligence Ministry’s forces have arrested 17 members of a criminal network that had infiltrated into the banking and foreign currency system of the country.

Rouhani:

Iran poised to supply energy to Turkey in long term

TEHRAN, Dec. 21 (MNA) – Iranian president has expressed Iran’s readiness to provide energy to Turkey in the long term, adding that facilitating banking ties paves the way for $30 billion bilateral trade target.

China’s Bank of Kunlun to resume financial transactions with Iran tomorrow

TEHRAN, Dec. 09 (MNA) – According to the Vice-Chairman of Iran-China Chamber of Commerce, Bank of Kunlun will resume receiving payments from Iranian importers tomorrow.

Iran, China discuss ways to enhance banking ties

TEHRAN, Dec. 04 (MNA) – Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati and Chinese Ambassador to Iran Pang Sen held a meeting on Tuesday in Tehran, conferring on ways to boost banking relations.

Banking official:

Major European bank keen on resuming coop. with Iran

TEHRAN, Dec. 02 (MNA) – An official working in Iran’s banking system said Sun. that the country has held several sessions with a major European bank during which the bank has voiced readiness to resume cooperation with Iran in the face of US sanctions.

German banks block, refuse to open new accounts for Iranian students

TEHRAN, Nov. 26 (MNA) – Some German financial institutions have caused a lot of problems for Iranian students by blocking their bank accounts and refusing to open new accounts.

Iran welcomes foreign banks to join its alternative to SWIFT

TEHRAN, Nov. 18 (MNA) – An informed source said the Central Bank of Iran (CBI) has launched a money transfer alternative to the SWIFT, adding that foreign banks are joining the platform one after another.

Beijing planing to set up new banking system for financial, banking coop. with Tehran

TEHRAN, Oct. 29 (MNA) – With the possibility of cutting banking relationship between China’s Bank of Kunlun and Iranian traders, Beijing intends to launch a new banking system to continue financial and banking cooperation with the Islamic Republic of Iran.