INDICES
Banks
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Gov’t to Offer Residue Shares in Three Banks
EghtesadOnline: The government plans to sell its remaining stake in three banks and an agro company in blocks of shares.
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Banks Need to Shift Focus on High-Tech
EghtesadOnline: A recent study estimates that information technology investment barely accounts for 1.73% of Iranian banks' annual spending. This is while a sharper focus on the key sector can and will boost profitability of lenders.
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Ten Banks Operate 78% of ATMs
EghtesadOnline: Ten big banks operated more than 47,000 automated teller machines (ATMs) in Iran by April 21, accounting for 78% of the total.
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New Rules Tighten Oversight of Banks’ Lending Procedures
EghtesadOnlne: The Central Bank of Iran Tuesday unveiled the ‘Centralized Database for Loans and Commitments’ known by its Persian acronym Samat, planned to enhance the CBI’s oversight of loans by banks.
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Banks Told to Block Transactions of Flawed IDs
EghtesadOnline: The Central Bank of Iran announced that as of April 26, the PAYA network, an electronic clearing house, has stopped processing transactions lacking full ID of bank customers.
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CBI Says: Tax Exemption to Banks Can Pave Way for Higher Official Forex Rates
EghtesadOnline: The Central Bank of Iran is willing to reconsider official foreign exchange rates to market rates if the government offers tax exemptions to banks, the CBI governor said.
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Interest Rates, Bourse and a Caveat
EghtesadOnline: The Economy Minister Farahad Dejpasand in a letter to banks and credit institutions asked them to comply with interest rates announced by the Money and Credit Council, the top banking and monetary policymaker.
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Banks Ramp Up Lending
EghtesadOnline: Banks and credit institutions paid 13,959.9 trillion rials ($55.8 billion) in loans to businesses in ten months since the beginning of current fiscal year that ends on March 20.
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Majlis Allows Banks to Invest $3b in Megaprojects
EghtesadOnline: The specialized and commercial Iranian banks were allowed by Majlis to extend financial facilities worth a maximum $3 billion to finance development plans and key infrastructures.
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Role of Banks in Weekly Bond Sale Diminishes
EghtesadOnline: Results of the recent bond auction held by the Central Bank of Iran indicate the declining share of banks and credit institutions in bond sale while stock market investors and security underwriters contributed more.
