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Banking In Iran
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. As of March 2014, Iran's banking assets made up over a third of the estimated total of Islamic banking assets globally. They totaled 17,344 trillion rials, or US$523 billion at the free market exchange rate, using central bank data, according to Reuters. Since 2001 the Iranian Government has moved toward liberalising the banking sector, although progress has been slow. In 1994 Bank Markazi (the central bank) authorised the creation of private credit institutions, and in 1998 authorised foreign banks (many of whom had already established representative offices in Tehran) to offer full banking services in Iran's free-trade zones. The central bank sought to follow this with the recapitalisation and partial privatisation of the existing commercial banks, seeking to liberalise the sector and enco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Iranian Revolution
The Iranian Revolution ( fa, انقلاب ایران, Enqelâb-e Irân, ), also known as the Islamic Revolution ( fa, انقلاب اسلامی, Enqelâb-e Eslâmī), was a series of events that culminated in the overthrow of the Pahlavi dynasty under Shah Mohammad Reza Pahlavi, and the replacement of his government with an Islamic republic under the rule of Ayatollah Ruhollah Khomeini, a leader of one of the factions in the revolt. The revolution was supported by various leftist and Islamist organizations. After the 1953 Iranian coup d'état, Pahlavi had aligned with the United States and the Western Bloc to rule more firmly as an authoritarian monarch. He relied heavily on support from the United States to hold on to power which he held for a further 26 years. This led to the 1963 White Revolution and the arrest and exile of Ayatollah Khomeini in 1964. Amidst massive tensions between Khomeini and the Shah, demonstrations began in October 1977, developing into a campaig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
