EghtesadOnline: A few months into the implementation of a Central Bank of Iran directive that meant changes for the banking system, depositors and markets, the regulator’s deputy for economic affairs has deemed it a successful scheme for giving rise to positive results.
EghtesadOnline: The total volume of term deposits attracted by the Iranian banking system in the six months to September 22 has hit 11.36 quadrillion rials ($275.4 billion), which indicate a growth of 25.5% year-on-year.
EghtesadOnline: As if the recent gold rally was not enough of a surprise, the precious metal continued to gain in strength in Tehran's market–this time fueled by the Central Bank of Iran's decision to get tougher on the interest rate cut's implementation.
EghtesadOnline: The Central Bank of Iran issued a new directive less than a week ago requiring banks to rigidly observe interest rates lowered a year ago by the Money and Credit Council in the latest move to loosen monetary policy.
EghtesadOnline: As the bank interest rates’ cuts are a hot topic of discussion these days, the minister of industries, mining and trade has said cutting interest rates should not be forced and the resources of lenders need to increase in tandem with economic growth.