Financial Archives - Iran News Daily

Tehran & Moscow agree to expand financial cooperation

siavash — Tue, 15 Oct 2024 06:51:11 +0000

CBI chief: Tehran & Moscow agree to expand financial cooperation

TEHRAN (Iran News) Tehran – ISNA – In an interview with Russia Today on Monday, Farzin announced positive agreements between Iran and Russia in the field of connecting card networks and monetary cooperation.

“At the BRICS summit, the issue of using local currencies to pay transactions was raised, and good agreements were reached in this regard,” he said.

He added that agreements were also reached on global reserve payments and the use of bonds for payments.

Referring to the current structure of the global financial system, which is based on the International Monetary Fund and the World Bank, Farzin noted, “Due to political challenges with Western countries, the world is looking for new arrangements, and BRICS is a platform for achieving these goals.”

Farzin also announced that China, Russia, and Iran are interested in reducing the role of the dollar in international trade, adding that Iran and other BRICS countries are looking to conduct transactions using local currencies, and significant progress has been made in this regard.

Referring to the new BRICS Development Bank, he said, “This bank can pursue the development goals of its members, and we are also trying to become a member of this bank. The World Bank mainly works in line with the goals of Western countries, and BRICS can be an effective alternative in this area.”

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Iran Slams World Bank Politicized Approach: Official

reporter 1222 — Wed, 16 Sep 2020 04:05:59 +0000

TEHRAN (Iran News) – An Iranian deputy finance minister said an announcement last month by the World Bank about data collection irregularities used in compiling the annual Doing Business reports proved Iran was right in its criticism of the body and its rankings due to politicized approach.

Mohammad Ali Dehqan said on Tuesday that for years Iran was of the view that the World Bank adopted a politicized approach in issuing its closely watched annual ranking of countries’ business and investment climates.

“In dealing with countries, the World Bank has some sort of playing politics and unjust approach which we have repeatedly touched upon,” Dehqan was quoted by the IRIB News.

The comments came more than two weeks after the Washington-based World Bank suspended issuing its Doing Business reports to probe data collection irregularities and review processes that lead to their publication.

The announcement came after a notable economist working for the group accused the reports of being biased against certain governments.

Others have raised criticism about how countries like Saudi Arabia and Jordan have sharply improved their economic situation in a matter of a year and jumped nearly 30 places in the 2019 edition of the ranking.

Dehqan said that independent trade and business groups in Iran have been repeatedly disappointed by the World Bank’s refusal to consider real reforms that have taken place in the country’s economy.

“We have had economic reforms in the country in recent years … and chambers of commerce, guilds and cooperatives had relayed these reforms in written correspondences to the World Bank,” he said, adding, “However, the reforms carried out were never accepted by the Bank.”

Iran has managed to improve its key economic indicators over the past years despite suffering from a fresh round of American sanctions that have seriously hampered foreign investment in the country.

The country offers amenities and protections, some of them unrivaled in the Middle East, to investors who are keenly inclined to take advantage of the country’s huge potential for growth once the foreign pressure on Iran is eased.

Press TV contributed to this story.

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Iran’s parl. supports financial transparency, rejects political pressures

reporter 1222 — Sat, 03 Mar 2018 11:48:34 +0000

The Chairman of Iran’s Parliament Economic Committee says that Iran supports financial transparency, meanwhile it rejects political pressures.

Mohammadreza Pourebrahimi referred to the latest decision made by the Financial Action Task Force (FATF) on Iran which refused to remove Iran from its blacklist while extending suspension of counter-measures against it, saying the Iranian parliament welcomes financial transparency while it will not accept political pressures.

The Paris-based international governing body which is in charge of taking actions against money laundering and combating the financing of terrorism –FATF-published a press release after its last meeting on February 18-23, 2018 in Paris, France, saying “given that Iran has draft legislation currently before Parliament, the FATF decided at its meeting this week to continue the suspension of counter-measures.”

The Iranian lawmaker went on to tell Mehr News Agency (MNA) that the Iranian parliament is discussing two bills (Money Laundering and Combating the Financing of Terrorism) presented by the government of Hassan Rouhani, adding that the Parliament Economic Committee and also the Legal and Judicial Committee of Iran’s Parliament will separately release their own reports on the possible consequences of joining the FATF.

The Chairman of Iran’s Parliament Economic Committee added “any obligations incorporated in FATF should be in accordance with our national interests,” adding “even if there have been commitments that are contrary to [Iran’s] national interests, the parliament will eventually adopt a text to meet our national and strategic interests.”

Pourebrahimi went on to stress “our approach is that all financial regulations should be transparent and we should cooperate with international institutions, but we will definitely not accept that an institution like the FATF imposes political pressures on us.”

Pointing out that the parliament is working on the two above mentioned bills in coordination with the Supreme National Security Council (SNSC) to prepare a report on the consequences of joining the FATF, the Chairman of Iran’s Parliament Economic Committee concluded that the SNSC has not contacted them yet.

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