Banking (Part Three)

Chapter 1- Conditions Governing the Establishment of Banks ARTICLE 30 (a) – Establishment of banks, engagement in banking operations and the use of the word “Bank” in the title of credit institutions shall be entirely governed by the provisions of this Act; (b) Definition of the term “banking operations” shall rest with the Currency and […]

Central Bank of Iran (Part Two)

Chapter 1- General ARTICLE 10 (a) Bank Markazi Iran shall be responsible for the formulation and implementation of the monetary and credit policies with due regard to the general economic policy of the country. (b) The objectives of Bank Markazi Iran are to maintain the value of the currency and equilibrium in the balance of […]

The Currency (Part One)

ARTICLE 1 (a) The Unit of Iranian Currency is the Rial. One Rial is equal to one hundred Dinars. (b) One Rial is equal to 0.0108055 (zero point zero one zero eight zero five five) gramme of fine gold. (c) Changes in the parity of the Rial in relation to gold shall be effected upon […]

How Much Does It Take to Start a Business in Iran?

1. Obtain a criminal record clearance: IRR 50,000 per criminal record 2. Reserve a unique company name, Register at the Companies Registration Office and Pay the registration fees: IRR 375,000 for registration and IRR 40,000 for name search and reservation 3. Place a notice of the company formation in the Official Gazette and the selected […]

How Long Does It Take to Start a Business in Iran?

1. Obtain a criminal record clearance: 5 days 2. Reserve a unique company name, Register at the Companies Registration Office and Pay the registration fees: 3 days 3. Place a notice of the company formation in the Official Gazette and the selected newspaper of general circulation: 1 day 4. Notify the State Tax Affairs Organization […]

$4.1bn of Foreign Investment under Rouhani

An Iranian official said the country has absorbed over $4 billion in foreign investment since President Hassan Rouhani took office in August 2013. Iran has drawn in $4.1 billion of foreign investment into its different sectors under President Rouhani, Ali Yazdani, an Iranian deputy minister of industry, mine, and trade, said at a meeting in […]

Iran’s 4.4% Economic Growth

Iranian President Hassan Rouhani highlighted the country’s economic growth of more than 4.4 percent in the first three months of the current Iranian year, which began on March 20, 2016. “(Iran’s) 11th administration took office when the country’s economic growth (rate) was minus 6.8% and today, it has reached 4.4 percent for the first three […]

Iran: Investment opportunities and risks

May 2014 Henry Smith, Senior Consultant for the Middle East and North Africa was recently in Tehran for a research trip, assessing the prospects for international business should the P5+1 negotiations lead to a lifting of international sanctions against Iran. Here he reports on the mood in the city and what he sees as the […]