Shaparak, Iran’s domestic payment network, hosted more than 1 billion transactions worth 1.104 quadrillion rials ($28.1 billion at the open market rate) during the month ending October 21.…

The government has approved changing Iran’s monetary unit from rial to toman, which will lop off one zero from the current national currency rial.

The decision was made when ratifying the…

Iran Insurance Company, the only state-owned insurance firm, has been facing major challenges in recent months, as its share of the market shrinks and its debts mount.  

The chief…

A little less than a year has passed since the lifting of the nuclear-related sanctions on Iran. Many were expecting an immediate lift in markets with the removal of the economic sanctions,…

Government debts to the banking sector jumped to 2.041 quadrillion rials ($64 billion) by the end of the sixth month of fiscal year (September 21), marking a 17.4% growth from the beginning of the…

Foreign exchange rates and gold coin prices surged on Wednesday following Donald Trump’s surprise victory in the US presidential election.

US dollar was traded for 36,580 rials in Tehran at…

While the housing market is struggling with a prolonged recession, commercial property and the luxury homes have seen surge in prices during the past three years.

Six insurance firms operating in free trade zones recorded a whopping 81.1% growth in total generated premiums during the first half of the fiscal year that ended on September…

Lawmakers will back the promotion of financial technologies and innovations, as they bolster the economy, said Majlis First Deputy Speaker Masoud Pezeshkian.

The Central Bank of Iran has clarified the lawful framework for the operation of  fintech companies, though policymakers could well reverse the trend.

The Central Insurance company of Iran has warned insurance firms against underselling insurance policies, even threatening them to reinstate official “rate setting” “for specific categories if…

Adjusting to time and needs and addressing the mounting challenges of the housing market has emerged as a preoccupation of the Ministry of Roads and Urban Development, according to the minister.…

The Iranian private sector’s deposits in banks and non-bank financial institutions reached 10.46 quadrillion rials ($333.8 billion at market exchange rate) by July 21, marking a 30.9% growth at an…

Banks in Iran officially started offering credit cards from Saturday as part of a nationwide scheme to help stimulate demand and replace the defective micro-lending methods prevalent in the…

Iran agreed on Tuesday to restructure Cuba’s debts to its export credit agency as part of a deal struck during a visit by President Hassan Rouhani to the Latin American country.

The…

Eight months after the lifting of the sanctions, Iranian ships are gradually getting coverage from international P&I Clubs–a privilege denied during the sanctions years that hit many…

Scania Group unveiled its new truck range, Next Generation Scania, on Tuesday after 10 years of making and 10 million kilometers of test drive, with $2.4 billion worth of investment, celebrating…

In a groundbreaking decision, the government has announced measures to transfer its accounts from agent banks to the Central Bank of Iran in line with its policies to promote transparency and…

Life insurance accounted for 14.8% of industry’s premiums generated during the first quarter of the current fiscal year (started March 20), marking a growth of 2.9% compared with the same period…

A recent decision by the Supreme Council of the Insurance Industry to lower the rate of return for term life insurance policies and shorten the minimum duration of their contracts has jeopardized…

Eliminating the army of regulating bodies and recommending a unified regulator for the fintech industry was the main topic at FinTechs and Regulatory panel held at the FINSTARS event on Wednesday…

Following the recent rally in gold prices, Bank Melli Iran decided to auction a portion of its bullion that includes a limited edition of Bahar Azadi coins as part of an effort to shed excess…

The Organization for Economic Cooperation and Development (OECD) has upgraded Iran's rating in the country risk classifications of the Participants to the Arrangement on Officially Supported…

High cost, an unpredictable market and lack of a supervisory body are the main challenges hindering the production of electric cars in Iran, according to a recent study conducted by Majlis…

Insurance companies are allowed to offer discounts for auto insurance only up to 2.5%, according to a law called into action by President Hassan Rouhani on Wednesday.