EghtesadOnline: Central Bank of Iran data shows despite decline in growth of sight deposits, depositors are keen about keeping their money in banks so long as term interest rates on deposits and sight deposits are attractive.
EghtesadOnline: Broad money supply reached 31,300.2 trillion ($130 billion) at the end of third quarter of the current fiscal year on Dec. 20, indicating 38.4% Y/Y growth.
EghtesadOnline: Monetary variables, such as broad money supply, needs to be assessed in light of special circumstances and unusual circumstances, a Central Bank of Iran official said.
EghtesadOnline: The Financial Action Task Force, the global dirty money watchdog, on Friday agreed to revamp its standards to beef up monitoring of financing aimed at evading US and United Nations sanctions and proliferating weapons of mass destruction, the US Treasury Department said.
EghtesadOnline: With current wages, workers run out of money only 10 days into the month, says Ali Aslani, a member of Supreme Labor Council.
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: The CBI governor says the bank has kept the growth of money supply in check which is a harbinger of decline in inflation rate.
EghtesadOnline: The Central Bank of Iran said increase in sight deposits far outpaced term deposits in the first quarter of the current fiscal year (March 20-June 20), reflecting depositors’ reluctance to keep money in banks for extended periods.
EghtesadOnline: New interest rates announced by the Money and Credit Council have failed to convince depositors to park their money in banks, secretary-general of the Iranian Private Banks' Association said.