Banking Transactions

$7bn Iranian frozen assets to be released

TEHRAN, Apr. 07 (MNA) – According to the agreement reached with some countries as contract party with Iran, $7 billion of Iran's frozen assets would be transferred to Iran's accounts through banking network.

US bank warns of potential $1 b loss from Russia exposure

TEHRAN, Apr. 04 (MNA) – JPMorgan boss Jamie Dimon warned on Monday that the bank could lose about $1 billion on its Russia exposure resulting from the conflict in Ukraine.

Tehran, Moscow mulling over to recognize MIR banking system

TEHRAN, Mar. 24 (MNA) – Iran's ambassador to Russia says Tehran and Moscow are discussing the recognition of "MIR" interbank system.

Transfer from traditional banking

TEHRAN, Aug. 14 (MNA) – Criticism of the banking system was considered blasphemous in capitalist countries until about a decade ago.

Iranian banking industry wants guaranteed sanctions relief

TEHRAN, May 10 (MNA) – During the ongoing JCPOA talks in Vienna, Iran is pushing for its banking industry to be given guaranteed and conclusive sanctions relief.

Iranian assets in US, UK, ‘not out of reach’: Deputy FM

TEHRAN, Jun. 08 (MNA) – Iranian Deputy Foreign Minister for Legal & Intl. Affairs Mohsen Baharvand on Sun. said that Iran’s assets in the United States, UK and Canada are not ‘out of reach’ but the country has a problem in money transfers due to banking sanctions.

FATF faces credibility gap, no evidence its work reduces proceeds of crime: expert

TEHRAN, Nov. 30 (MNA) – Matthew Redhead, a researcher on financial crime and national security topics at Royal United Services Institute (RUSI) said that FATF faces a credibility gap and there is no evidence its work reduces proceeds of crime.

Iranians in Malaysia say banks block their accounts due to US sanctions

TEHRAN, Oct. 30 (MNA) –Banks in Malaysia are closing the accounts of Iranian individuals and companies, in a sign that US sanctions are having a far-reaching impact on citizens of the Islamic Republic of Iran.

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.