EghtesadOnline: New exchange rates should be used by banks as the basis for converting their forex debt and assets into rial, the Central Bank of Iran said Thursday.
EghtesadOnline: Banks and credit institutions paid 5,060.8 trillion rials ($18 billion) in loans to businesses in the first five months of the current fiscal year (March 20-August 21).
EghtesadOnline: Iranians’ tendency to invest in banks has declined drastically in favor of stocks and real estate markets, according to a poll by the Iran Student Polling Agency (ISPA).
EghtesadOnline: As the stock market continues to plunge, the High Council of Securities and Exchange said banks too can invest in the bourse.
EghtesadOnline: Contrary to authorized payment companies, banks have welcomed Iran’s Fintech Association's proposed fee system for online payment in which aggregators and service providers cover the network fees, which currently are paid by banks.
EghtesadOnline: Banks and non-bank credit institutions can offer electronic wallets to help facilitate micro transactions, says the Money and Credit Council, the highest supervisory and regulatory body of Iran's financial markets.
EghtesadOnline: The Money and Credit Council, the top monetary decision-making body, has obliged banks to allocate at least 3% of their financial resources to buy bonds issued by the government. It issued a three-month deadline for this task.
EghtesadOnline: Iran’s Fintech Association has proposed a new fee system for online payment in which payment aggregators and payment service providers cover the network fees, which are currently paid by banks.
EghtesadOnline: Governor of the Central Bank of Iran says lenders should use a fraction of their financial reserves to buy bonds issued by the government.
EghtesadOnline: Governor of Central Bank of Iran says the bank has been struggling to reform the banking system long saddled with mismanagement and financial indiscipline.