Feb 18 2025

Five Iraqi banks to be banned from US dollar transactions

Iraq's central bank will ban five more local banks from engaging in U.S. dollar transactions, a move that comes after meetings with U.S. Treasury officials in efforts to combat money laundering, dollar smuggling and other violations, two ...
Jan 10 2025

Mafia-style Loan Distribution in Iran

Iranian regime president Masoud Pezeshkian’s government has recently reduced the previous administration’s approved housing loan from 8 billion rials (approximately $9,877) to 6.5 billion rials (approximately
Nov 26 2024

Iran unveils SWIFT competitor called ACUMER

Iran has launched ACUMER, a new banking platform designed to circumvent international sanctions and enhance trade with Asian partners. Farzin, speaking at the 11th Annual Modern Banking and Payment Systems Conference
Nov 13 2024

Iranian Bank Cards Now Usable in Russia

Iranian bank cards can now be used in Russia, Iranian state television reported, marking a new effort by Tehran and Moscow to counteract Western sanctions through strengthened financial cooperation. "The plan is
Nov 12 2024

Iranian and Russian payment networks connected

Addressing this ceremony, Central Bank of Iran Governor Mohammad-Reza Farzin mentioned integration of the two countries’ banking subsystems as a big step towards creating integrated economic cooperation in the
Nov 07 2024

Iran’s currency tanks to all-time low

Iran’s currency fell on Wednesday to an all-time low as former president Donald Trump apparently clinched the US presidency again, signaling new challenges ahead for Tehran as it remains locked in the wars raging