BMI Told to Open Accounts for Foreign Investors

The Central Bank of Iran on Sunday tasked the state-owned Bank Melli Iran to open accounts for foreign investors seeking residence permit. 
BMI will transfer the money to the CBI and inform related departments in the bank and Interior Ministry, a CB…

The Central Bank of Iran on Sunday tasked the state-owned Bank Melli Iran to open accounts for foreign investors seeking residence permit.  BMI will transfer the money to the CBI and inform related departments in the bank and Interior Ministry, a CBI press release said.  Back in 2018, the High...

S. Korea Sending First Humanitarian Cargo

South Korea will send to Iran $500,000 worth of medicine this week, the foreign ministry in Seoul said, in the first such humanitarian exports to the country since the United States tightened anti-Tehran sanctions last year.
The ministry also expect…

South Korea will send to Iran $500,000 worth of medicine this week, the foreign ministry in Seoul said, in the first such humanitarian exports to the country since the United States tightened anti-Tehran sanctions last year. The ministry also expects another batch of exports, such as medicine...

Yazd Tire Co. Offers 40m Shares

Yazd Rubber Industries Complex, a major tire producer in central Iran, offered 10% of its shares in an initial public offering on the junior equity market Iran Fara Bourse on Wednesday.
The offer comprised 40.8 million shares with each share tagged …

Yazd Rubber Industries Complex, a major tire producer in central Iran, offered 10% of its shares in an initial public offering on the junior equity market Iran Fara Bourse on Wednesday. The offer comprised 40.8 million shares with each share tagged at 40,353 rials, according to a notice on the...

SSO Ordered to Cede Excess Shares in Refah Bank

The Majlis on Tuesday obliged the Social Security Organization to sell part of its shares in its affiliated lender, Refah Bank, so that the shares don’t exceed the ceiling set by the Central Bank of Iran. 
As per the decision, the SSO is allowed to …

The Majlis on Tuesday obliged the Social Security Organization to sell part of its shares in its affiliated lender, Refah Bank, so that the shares don’t exceed the ceiling set by the Central Bank of Iran.  As per the decision, the SSO is allowed to own only 33% of the shares in Refah Bank and...

Tehran Stock Exchange Gains 71% Since March 20

The Benchmark of Tehran Stock Exchange climbed more than 365,000 points and gained 71% during  ۲۵ trading sessions since the beginning of the current fiscal year (March 20). 
A total of 17.26 billion shares worth 1,689 trillion rials ($10 billion) c…

The Benchmark of Tehran Stock Exchange climbed more than 365,000 points and gained 71% during  25 trading sessions since the beginning of the current fiscal year (March 20).  A total of 17.26 billion shares worth 1,689 trillion rials ($10 billion) changed hands in 28.53 million deals, making the...

Struggling Insures Seek Gov’t Help

Iranian Insurers’ Syndicate has asked the Ministry of Economy for financial aid to the industry burdened by the impact of the coronavirus spread.
Mohammad Karimi, the IIS secretary general in a letter to the minister, called for the government’s sup…

Iranian Insurers’ Syndicate has asked the Ministry of Economy for financial aid to the industry burdened by the impact of the coronavirus spread. Mohammad Karimi, the IIS secretary general in a letter to the minister, called for the government's support to prevent the collapse of the network,...

Sizable Growth in Secondary Market Forex Rates in Tehran

Foreign currency rates jumped 58.5% in the last calendar month to April 19 in the secondary forex market, known as Nima, compared to the same month last year. 
Nima is an online platform affiliated with Central Bank of Iran where exporters sell thei…

Foreign currency rates jumped 58.5% in the last calendar month to April 19 in the secondary forex market, known as Nima, compared to the same month last year.  Nima is an online platform affiliated with Central Bank of Iran where exporters sell their overseas currency and companies buy it for...

Some Help for Needy Families

The Central Bank of Iran said the government’s 10-million-rial ($62) was paid to nearly 17 million heads of households in need by Tuesday — part of a scheme to help low-income families partly deal with the economic impact of COVID-19 pandemic. 
As …

The Central Bank of Iran said the government's 10-million-rial ($62) was paid to nearly 17 million heads of households in need by Tuesday -- part of a scheme to help low-income families partly deal with the economic impact of COVID-19 pandemic.  As per the measure, those who are receiving cash...

German FM: New INSTEX Transactions on Agenda

New transactions using the European Union’s financial settlement mechanism INSTEX (Instrument in Support of Trade Exchanges) will take place soon, German Foreign Minister Heiko Maas told a press conference Tuesday. 
“INSTEX is still in its infancy a…

New transactions using the European Union’s financial settlement mechanism INSTEX (Instrument in Support of Trade Exchanges) will take place soon, German Foreign Minister Heiko Maas told a press conference Tuesday.  "INSTEX is still in its infancy after the first transaction. We are in close...

S. Korea Lender Agrees to Settle US Probe Over Payment to Iran

Industrial Bank of Korea, one of South Korea’s largest banks, will pay $86 million to settle US and New York state criminal and civil charges it allowed an illegal transfer of more than $1 billion to Iran that violated US sanctions.
Authorities said…

Industrial Bank of Korea, one of South Korea’s largest banks, will pay $86 million to settle US and New York state criminal and civil charges it allowed an illegal transfer of more than $1 billion to Iran that violated US sanctions. Authorities said on Monday that IBK entered a two-year deferred...