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Iran eyes ‘bad bank’ to mop up toxic loans
March 12, 2016

Tehran, March 10, IRNA – Iran’s central bank is preparing to set up a “bad bank” to cleanse its financial system of a vast pile of toxic loans after studying the models used by other countries, such as Sweden, Japan and South Korea.The plans were…


Iran, South Korea seal €5bn pact
March 6, 2016

Iran’s Finance Minister Ali Tayyeb-Niya says Tehran has sealed a basic deal with Seoul to attract €5 billion in funds for its development projects.Iran said on Sunday that it had signed a basic agreement with…


State Bank clears financial transactions with Iran
March 6, 2016

Pakistan’s central bank has cleared all commercial banks and financial institutions for business with Iran, paving the way for the two countries to resume regular business activity that was hampered by years of sanctions.Global transaction…


SWIFT completes the on-boarding process for Iranian banks
March 6, 2016

17 February 2016Following the historic event of implementation of Joint Comprehensive Plan of Action (JCPOA) agreed by the 5+1 countries on January 16th 2016, the Central Bank of the I.R. of Iran started the plan of…


Iran and Switzerland to cooperate in AML and combating financing terrorism
March 6, 2016

In his meeting with the Swiss economic delegation, the governor of the central bank of Iran proposed that a team of supervision experts visit Switzerland to introduce Iranian banking system to its economic activists. He…


Iran- South Korea banking and trade relations
March 6, 2016

In a meeting between the governor of the central bank of Iran Valiollah Seif and South Korean Trade Minister Joo Hyung-hwan, both parties discussed the boosting of banking correspondence and establishment of credit lines in…