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Following the Iranian Revolution, Iran's banking system was transformed to be run on an Islamic interest-free basis. As of 2010 there were seven large government-run commercial banks. [1] As of March 2014, Iran's banking assets made up over a third of the estimated total of Islamic banking assets globally.
The Agricultural Bank (Keshavarzi Bank) was the first Iranian bank to connect to the Shetab system. [ 5 ] In 2007, before the imposition of new sanctions against Iran , Tetra-Tech IT Company announced that using Visa and Mastercard is now possible for online sales and in Iranian e-card terminals at shopping malls, hotels, restaurants, and ...
The Central Bank of the Islamic Republic of Iran (CBI; Persian: بانک مرکزی جمهوری اسلامی ايران, romanized: Bank Markazi-ye Jomhuri-ye Eslāmi-ye Irān; SWIFT Code: BMJIIRTH), also known as Bank Markazi, was established under the Iranian Banking and Monetary Act in 1960, it serves as the banker to the Iranian government and has the exclusive right of issuing banknote ...
It is to surpass the other specialized government bank, the military funding bank. [1] The bank would procure and sell development stocks. It is part of the seventh quininal program. [2] Ensafnews called it 'a daydream for the government.' [3] [4] Five banks merged to create this bank: [5] Bank Keshavarzi or Agriculture; Bank Industry and Mining
Regulation of Iran's economy and its financial policy, implementing & enforcing tax policies in Iran, in charge of foreign direct investment (F.D.I.), directing the banking and commercial insurance sector of Iran, regulating the financial markets of Iran, see also: Securities and Exchange Organization (SEO) & Central Bank of Iran.
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The company was established in 2007 as part of the government's economic reform of the banking system. [2] The bank specializes in services relating to Iran's petrochemical industry and mining sectors, representing the interests of the Abadan Refinery, and IMIDRO. [3] In 2007, the bank had an initial equity capital of $100 million. [2]
Due to banking system constraints, the National Bank carried out all duties of Central Bank in the economy before 1956. After establishment of Central Bank of Iran, the duties were assigned to this bank. The last registered capital of National Bank was 198 thousand and 565 billion and 600 million Rials in June 2017. [15]