EghtesadOnline: In the current Iranian year which started in March, Iranian financial institutions have set aside about 50 trillion rials ($1.19 billion) to be invested in knowledge-based firms.
EghtesadOnline: The Central Bank of Iran has officially prohibited all financial institutions, including banks and credit institutions, from handling cryptocurrencies.
EghtesadOnline: As part of efforts to organize the informal monetary market, particularly the unlicensed credit and financial institutions, a committee is to be formed at the Central Bank of Iran with the sole purpose of dealing with the fallout from these entities going bankrupt.
EghtesadOnline: Organizing the unlicensed credit and financial institutions is among the government's biggest achievement, President Hassan Rouhani announced in a recent TV interview.
EghtesadOnline: Financial institutions throughout the world have historically–voluntarily or otherwise–relied on mergers and acquisitions to adapt to an ever-evolving climate that has only surged following the Great Recession.
EghtesadOnline: According to the CBI directive, banks and financial institutions are obliged to set up an independent compliance department.
EghtesadOnline: The Central Bank of Iran in its latest directive publicized on Saturday obligates all certified financial institutions to establish an independent compliance department, as it moves to plug the hole on Iranian banks' shortfalls in meeting global anti-money laundering and combating terrorism financing regulations.
EghtesadOnline: For making Iranian financial institutions conform to international standards, Money and Credit Council–a top monetary decision-making body–has approved a directive that requires banks to implement compliance risk standards.
EghtesadOnline: The share of uncertified financial institutions in the Iranian market significantly shrunk in the first four years of President Hassan Rouhani’s term, as government policies to organize the informal financial market have borne fruit, the governor of the Central Bank of Iran said.