Vistar - Business Monitor

Three Iranian Banks to Open Branches in Germany

Sept. 25, 2016 Germans, from the very beginning after the JCPOA went into effect, vigorously started visiting Iran. Now, these visits have made Germany the fifth trade partner of Iran. Germany is an old partner of Iran and was once the top trade partner of the country before sanctions were imposed on Iran. Being pioneer among its European neighbors in trades with Iran, Germany now seeks to seat on the first place in terms of banking transactions with Iran as well. To this end, Germany’s experts from its Central Bank took the lead to help Iran upgrade its banking system which has undergone tough days for at least six years. After that, Germany invited Iran’s governor of Central Bank to shape the transactions between the two countries more concrete. Read more

Critical Condition of Iranian Banks

Jan 12, 2016 The research center of the Iranian Parliament has released a report on the banking system which is in “crisis,” warning that Iranian banks may be bankrupt soon. Out of the 7,333 credit and financial institutions currently operating in the country, only 1,000 are authorized by the Central Bank and supervised by it. The rest, known as unauthorized institutions, have been established by certain organizations which are not necessarily accountable to the Central Bank, the report noted. Read more

Infiltration into the Central Bank of Iran with the Excuse of Fighting Usury

May 15, 2016 Some of the lawmakers, who have failed to win a seat in the next parliament, have raised a motion that would push monetary officials to apparently fight usury in the banking system. However, the move is actually an effort to infiltrate the Central Bank of Iran and its subsidiaries. News media have already called the motion as a sign of rising tension between the administration and parliament, making the CBI governor to write a letter to the speaker asking on the so-called free-usury banking plan to be blocked. Read more

Will the Iranian Crisis of Unauthorized Financial Institutions Permeate to Banks?

Mar. , 2016 Dozens of financial and credit institutions are not authorized by the Central Bank of Iran, and therefore are barred from using mangy advantages provided by the regulator. For instance, the unauthorized financial institutions are not connected to the national interbank card switch (SHETAB); so, they need to use the check services available only in banks and authorized institutions to satisfy their customers. Read more

Role of Iranian Banks in Boosting Economy in Post-Sanctions Era

Sept. , 2015 Iranian banks should increase their capability on the front line of doing business with external world after sanctions are lifted. Many money market experts expect the Iranian banking industry should help macroeconomic management to be upgraded and support manufacturing and employment in a move to return to the growth rate of the pre-sanctions era. Read more