Economy

The Central Bank of Iran has issued a bylaw mandating all banks and credit institutions to approve three conditions before giving loans to economic entities, FNA reported Monday.

It has…

An unnamed bank was reprimanded by the central bank due to noncompliance with e-check system Checkavak, a central bank official said on Monday.

“We cannot let one bank’s weak performance…

Mobile phone users are receiving fraudulent text messages, which claim to facilitate the process of receiving loans and reduce the wait to only two months. Official banking procedures to apply for…

Alborz Insurance profits beat expectations after growing 30 percent for the current fiscal year ending March 2015, said the insurer’s CEO Rasoul Tajdar. The Tehran-based insurer expanded its…

O ver the past month the Central Bank of Iran has kept close watch regarding banks’ deposit interest rates and three cases of violations were reported and sorted out over the period, CBI Governor…

T he Times of India announced in November that it will offer online visa facilities for 45 countries including, the US, Australia, Germany, Japan UAE, Palestine, Jordan, Thailand, Singapore and…

Some iron ore mines will be forced to shut down if the export market for the product does not improve, warned the deputy minister of industry, mine, and trade, Mehdi Karbasian on Sunday.

The ministry of industry, mine, and trade said in the first 8 months of the current Iranian year (to end March 20), there were 4,145 unfinished industrial projects across the country with more…

Stocks’ sharp retreat continued on Sunday, after most of the shares at the equity market witnessed panicked selloffs due to the fragile atmosphere at Saturday’s close.

Failing to snap the…

Some 200 companies from Iran and foreign countries such as Germany, France, Spain, the US, Finland, Denmark, Switzerland, the UK, and Sweden are participating in the 11th Energy Exhibition on Kish…

Iran’s e-commerce industry has a new competitor in 2015 who is going to shake up the status quo. The new app is called Lendem short for “lend them” and aims to shake up how things are traded and…

Interest on sight deposits will be calculated via a new method, a newly issued directive by the Central Bank of Iran states.

According to the directive, interest on sight deposits will be…

T he old Persian language sarcastic adage of “take it if it’s free “ has come unstuck last week with the revelation of a SMS and online con which had fooled thousands of Iranians to give their…

Although false presuppositions existed regarding the fact that the capital market and money market were in competition and that the Central Bank of Iran does not want the former to prosper, CBI…

The Central Bank of Iran and the ministry of cooperatives, labor and social welfarehave jointly agreed to grant permission to different groups from diverse career backgrounds to establish credit…

Non-oil exports from southwestern Iranian province of Khuzestan to Iraq increased by 70% during the first nine months of the current Iranian year compared to the same period last year,…

Iran is slated to hold an exclusive industrial and trade fair in Turkmenistan’s capital city of Ashkhabad on February 25, IRNA reported. Iranian industrialists and businessmen are expected to…

Fulfilling 95 percent of the domestic need, Samen Pharmaceutical Company exports the majority of its products to 28 countries despite the draconian sanctions imposed on the country, Abdollah…

An economic delegation from Iran headed by Akbar Torkan, senior advisor to President Hassan Rouhani, is taking part in the 7th Vibrant Gujarat Summit in the state of Gujarat, India January 11-13,…

The ministry of cooperatives, labor, and social welfare is planning to increase the contribution of cooperatives to the GDP from a current 5% to over 25%, Persian daily Forsat Emrooz quoted a…

During the first nine months of the current year (March 21-December 21), 12 trillion rials (over $342 million at market exchange rate) worth of contraband imported goods were seized, which…

Providing subsidies on important social services such as medical care, education, etc. together with a reliable system of ‘wealth and income distribution’ would be better alternatives to cash…

Machine made carpets have replaced hand-woven exquisite rugs in many Iranian homes due largely to the much lower prices and diversity of pattern, designs and colors. Iran produces more than 80…

The government says it has been successful in raising its revenues from taxes.

Investment budget for development projects in the next Iranian year (starting March 21) has increased by 16% compared with the current year budget, the head of the Iranian parliament’s development…