Iran’s low foreign debt creates welcoming atmosphere for foreign investment

Vice Governor of Economic Affairs of the Central Bank of Iran said that the ratio between Iran’s foreign debt and GDP has reached 2.5 percent and the ratio between foreign debt repayment and export has reached 6.2 percent that creates an appropriate atmosphere for foreign investment attraction to Iran. Referring…

Iran, Ukraine to promote banking cooperation

Following the implementation of the nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), Iran’s banking system has managed to promote ties with various countries including Ukraine, says a Central Bank of Iran official. In the post-sanctions era, Iran has opened brokerage accounts in India, China, South Korea,…

Three foreigner banks opening office in Iran

The Central Bank of Iran building is pictured in Tehran, Jan. 23, 2006. (Photo by Reuters) Three foreign banks are in the process of opening branches in Iran, the country’s vice central bank governor says.  This is good news for Iran which is still facing a drought of outside investment…

Central banks of Iran, Germany to ink agreement

The visiting Vice-Chancellor of Germany Sigmar Gabriel has announced that Deutsche Bundesbank and Central Bank of Iran (CBI) are to sign an agreement on mutual cooperation on Monday. Gabriel made the announcement at a day-long business forum attended by the Iranian and German officials in Tehran. By economic cooperation, the…

Iran’s SWIFT problems settled: Senior banking official

A senior banking official said in this holy city in central Iran that SWIFT problems have been settled between the Iranian and foreign banks, it was announced on Wednesday. Chairman of the Coordination Council of state-owned banks Abdolnaser Hemmati made the remarks in a press conference after his meeting with…

S. Korean Bank to Open Representative Office in Iran

Coinciding with the visit of South Korean President to Iran, the first representative office of the South Korean Woori Bank was opened with the presence of Mr. Kamyab, the vice-governor for Foreign Exchange Affairs in the Central Bank of Iran (CBI). This is the first time that a South Korean…

Talks Underway between Visa, Master Card Iran banks

Negotiations with big credit card issuers, namely Visa and Master Card, are underway to introduce their cards to Iran’s market, the CEO of Shaparak payment and settlement network said on Wednesday. Mohsen Qaderi, however, added that the process could take a long time. “The success of the talks hinges on…

S Korean industries official to visit Iran

South Korea’s Minister of Foreign Affairs Yun Byung-se said on Tuesday that the country’s Vice Finance Minister Joo Hyung Hwan is to pay a visit to Iran next month. During the visit which is taking place with the objective of promoting bilateral relations, he will be leading a ranking delegation…

US Treasury lifts sanctions imposed on Iran’s Central Bank, oil trade

The US Department of the Treasury released a set of documents, which define the sanctions lifted from Iran, including the restrictions imposed on Central Bank of Iran and National Iranian Oil Company (NIOC). The move was made because of the Joint Comprehensive Plan of Action (JCPOA) implementation which has officially…

1,000 LCs opened on 1st day of lifting sanctions: ICCIM

Head of Iran Chamber of Commerce, Industries, Mines and Agriculture Mohsen Jalalpour said on Sunday that 1,000 LCs were opened on the first day of implementation of the Joint Comprehensive Plan of Action. Jalalpour told reporters on the sidelines of the meeting of the group of representatives of Iranian Chamber…