EghtesadOnline: The Central Bank of Iran’s policy to cap bank interest rates at 15% effectively changed the composition of deposit contracts signed with financial institutions.
EghtesadOnline: In a performance report covering the period since the current fiscal year began in March 2017, the Central Bank of Iran has reviewed its major monetary policies related to reducing bank interest rates, boosting production and empowering people’s purchasing power.
EghtesadOnline: The research arm of the Iranian Parliament has warned against the detrimental effects of the government engaging in a widespread issuance of bonds, especially on bank interest rates, and proposed that the Central Bank of Iran act as the official watchdog of the bonds.
EghtesadOnline: Lower bank interest rates, which cause more capital to flow toward other sectors including the housing sector, will prove instrumental in triggering a boom in the sector, a board member of Tehran Association of Realtors said.
EghtesadOnline: In what could be another step toward bolstering efforts to reduce the tenaciously high bank interest rates and balance markets, investment funds owned by banks and credit institutions have been slapped with a number of restrictions aimed at returning them to their original mandate.
EghtesadOnline: Governor of the Central Bank of Iran Valiollah Seif has sought to outline the benefits of the policymaker's recent directive to cut bank interest rates, saying it has curbed a surge in liquidity while changing the nature of deposits for the better.
EghtesadOnline: Saturday was the implementation day for the Central Bank of Iran’s latest major directive on bank interest rates, which has already created a momentum in the banking system as lenders are scurrying to absorb the maximum number of deposits.
EghtesadOnline: While more than a year has passed since bank deposit interest rates were officially set at 15%, the Central Bank of Iran has now set a deadline through its latest directive to enforce the lowered rates.
EghtesadOnline: CBI Governor Valiollah Seif has named the newly-formed cordial relationship between the country's monetary and capital markets as a factor for moderating bank interest rates, announcing that consequently, "banks have been allowed to sell some of their bonds in the secondary market".
EghtesadOnline: Mohammad Shariatmadari, industries, mining and trade minister-designate, has pledged to lower banks’ interest rates and overhaul the current system of determining foreign exchange rates to support industries and exports.