Commerce with Iran
Why Iran?
Islamic Republic of Iran with an area of 1/648/195 sq.km, having 15 neighbors and over 80 million populations has been located in
South- West Asia. The country neighbors with Turkey and Iraq in west, Afghanistan and Pakistan in East, Armenia, Azerbaijan,
Russia, Kazakhstan and Turkmenistan in North and Kuwait, Saudi Arabia, Qatar, Bahrain, United Arab Emirates and Oman in
South through Persian Gulf and Oman Sea. Therefore, Islamic Republic of Iran, as a strategic country, has got common borders
with states of ESCWA in South and West, SAARC in East and CIS and Caucasus as well as UNECE in North
Monetary & Banking
About the Central Bank of Iran
“BANK MARKAZI JOMHOURI ISLAMI IRAN” is the central bank of the Islamic Republic of Iran
The Central Bank of Iran (CBI) was established in 1960 (1339 solar year)
As stated in the Monetary and Banking Act of Iran (MBAI), CBI is responsible for the design and implementation of the
monetary and credit policies with due regard to the general economic policy of the country
Four major objectives of CBI as stated in the MBAI are
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Maintaining the value of national currency
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Maintaining the equilibrium in the balance of payments
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Facilitating trade-related transactions
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Improving the growth potential of the country
To achieve the objectives as stated in the MBAI, CBI is endowed with the responsibility of fulfilling the following functions
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Issuance of notes and coins
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Supervision of banks and credit institutions
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Formulation and regulation of foreign exchange policies and transactions
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Regulation on gold transactions
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Formulation and regulation on transactions and inflow/outflow of Domestic currency
As banker to the government, the CBI is mandated to keep government accounts, grant loans and credits to state enterprises and
agencies. The CBI also covers such functions as lending facilities to banks, purchase and sale of government participation papers
as well as other legal banking operations
After the Islamic Revolution of Iran laws and regulations pertaining to money and banking institutions and monetary policy
design and implementation were amended to reflect the priorities and principles as set out in the Constitution of the Islamic
Republic of Iran. At present, CBI is responsible for the design and conduct of monetary policy within the context of government’s
five year development plan and annual budget. In line with the articles of the constitution, the monetary and credit policies are
formulated and implemented in consistent with the MBAI as amended, Usury-Free Banking Act of 1983, the Banks
Nationalization Act of 1979, and the Law for the Administration of Banks, of 1979
Economic Trends
Economic Indicator
Laws & Regulations
Economic Statistics
Iranian Banks
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