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Banking And Insurance 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 (, ), also known as the 1979 Revolution, or the Islamic Revolution of 1979 (, ) was a series of events that culminated in the overthrow of the Pahlavi dynasty in 1979. The revolution led to the replacement of the Imperial State of Iran by the Islamic Republic of Iran, as the monarchical government of Mohammad Reza Pahlavi was superseded by the theocratic Ruhollah Khomeini, a religious cleric who had headed one of the rebel factions. The ousting of Pahlavi, the last Shah of Iran, formally marked the end of List of monarchs of Persia, Iran's historical monarchy. In 1953, the CIA- and MI6-backed 1953 Iranian coup d'état overthrew Iran’s democratically elected Prime Minister, Mohammad Mossadegh, who had nationalized the country's oil industry to reclaim sovereignty from British control. The coup reinstalled Mohammad Reza Pahlavi as an absolute monarch and entrenched Iran as a client state of the U.S. and UK. Over the next 26 years, Pahlavi consolidated ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Iran
Iran has a mixed economy, mixed, centrally planned economy with a large public sector."A survey of Iran: Stunted and distorted". ''The Economist'' (2003) It consists of hydrocarbon, agricultural and service sectors, in addition to manufacturing and financial services, with over Industry of Iran, 40 industries traded on the Tehran Stock Exchange. With 10% of the world's Iran's oil reserves, proven oil reserves and 15% of its Iran's Natural Gas Reserves, gas reserves, Iran is considered an "energy superpower". Nevertheless since 2024, Iran has been suffering from an Iranian energy crisis, energy crisis. A unique feature of Iran's economy is the reliance on large religious foundations called bonyads, whose combined budgets represent more than 30 percent of Government of Iran#Expenditures, central government spending. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Banks In Asia
This is a list of banks in Asia (alphabetically) Afghanistan Central Bank * Da Afghanistan Bank Commercial Bank * Afghan United Bank * Afghanistan International Bank (AIB) * Bank Alfalah * Aryanbank * Azizi Bank * Bakter Bank * Bank-e-Millie Afghan *Brak Afghanistan Bank * First MicroFinance Bank * Ghazanfar Bank *HDFC Bank * HBL Afghanistan * Miawand Bank * National Bank Of Afghanistan * National Bank of Pakistan * New Kabul Bank * Pashtany Bank *Standard Chartered Bank Bahrain * Ahli United Bank * Arab Banking Corporation * Bahrain Islamic Bank * Bank of Bahrain and Kuwait * Bank Melli Iran *Citibank * Gulf International Bank * HSBC Bank (Middle East) * ICICI Bank * National Bank of Bahrain * Saderat bank of Iran *Standard Chartered Bank *State Bank of India Bangladesh * Bangladesh Bank * Bangladesh Krishi Bank * Grameen Bank * Sonali Bank * Janata Bank * Rupali Bank * Bangladesh Development Bank Limited * Islami Bank Bangladesh Limited * Al Arafah Islami B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tejarat Bank
Tejarat Bank (Persian language, Persian: بانک تجارت, ''Bānk-e Tejārat'', ''Mercantile Bank'' also "Commerce Bank") is an Banking in Iran, Iranian Bank. History (1887 – 1995) In 1887 a British banks, British bank named The East Modern Bank (Bank Jadid Sharq) established branches in some cities of Iran such as Tehran, Tabriz, Rasht, Mashhad, Isfahan, Shiraz, and Bushehr. In 1888, on the basis of a 60-year concession awarded to Baron Paul Reuter (the founder of Reuters News Agency) by Naser al-Din Shah Qajar, Naser od-Din Shah, (Qajar dynasty, Qajar shah of Iran: 1848-96), the facilities of The East Modern Bank were assigned to Bank Shahanshahi. The dealing center in Tehran and the bank were recognized under the laws of British Empire, Britain, and London was its main center. This bank established some branches in other cities of Iran, and also in various other countries. The exclusive privileges of publishing Banknote, paper money, tax exemption, performing commerc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Embezzlement
Embezzlement (from Anglo-Norman, from Old French ''besillier'' ("to torment, etc."), of unknown origin) is a type of financial crime, usually involving theft of money from a business or employer. It often involves a trusted individual taking advantage of their position to steal funds or assets, most commonly over a period of time. Versus larceny Embezzlement is not always a form of theft or an act of stealing ''per se'', since those definitions specifically deal with taking something that does not belong to the perpetrators. Instead, embezzlement is, more generically, an act of deceitfully secreting assets by one or more persons that have been ''entrusted'' with such assets. The persons entrusted with such assets may or may not have an ownership stake in such assets. Embezzlement differs from larceny in three ways. First, in embezzlement, an actual '' conversion'' must occur; second, the original taking must not be trespassory, and third, in penalties. To say that the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Iran
The Government of the Islamic Republic of Iran (), known simply as ''Nezam'' (), is the ruling State (polity), state and current political system in Iran, in power since the Iranian Revolution and fall of the Pahlavi dynasty in 1979. Its Constitution of the Islamic Republic of Iran, constitution, adopted by an ex post facto December 1979 Iranian constitutional referendum, referendum, calls for separation of powers, with Cabinet of Iran, executive, Iranian Parliament, legislative and Judicial system of the Islamic Republic of Iran, judicial systems. The Supreme Leader of Iran, supreme leader of Iran is the country's List of heads of state of Iran, head of state and Commander-in-Chief of the Iranian Armed Forces, commander-in-chief of the Armed Forces of the Islamic Republic of Iran, armed forces. It is currently one of the three governments using the title Islamic republic. Creation The Islamic Republic of Iran was created shortly after the Iranian Revolution, Islamic Revolu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Library Of Congress
The Library of Congress (LOC) is a research library in Washington, D.C., serving as the library and research service for the United States Congress and the ''de facto'' national library of the United States. It also administers Copyright law of the United States, copyright law through the United States Copyright Office, and it houses the Congressional Research Service. Founded in 1800, the Library of Congress is the oldest Cultural policy of the United States, federal cultural institution in the United States. It is housed in three buildings on Capitol Hill, adjacent to the United States Capitol, along with the National Audio-Visual Conservation Center in Culpeper, Virginia, and additional storage facilities at Fort Meade, Fort George G. Meade and Cabin Branch in Hyattsville, Maryland. The library's functions are overseen by the librarian of Congress, and its buildings are maintained by the architect of the Capitol. The LOC is one of the List of largest libraries, largest libra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Islamic Banking
Islamic banking, Islamic finance ( ''masrifiyya 'islamia''), or Sharia-compliant finance is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economics. Some of the modes of Islamic finance include '' mudarabah'' (profit-sharing and loss-bearing), '' wadiah'' (safekeeping), '' musharaka'' (joint venture), '' murabahah'' (cost-plus), and '' ijarah'' (leasing). Sharia prohibits ''riba'', or usury, generally defined as interest paid on all loans of money (although some Muslims dispute whether there is a consensus that interest is equivalent to ''riba''). Investment in businesses that provide goods or services considered contrary to Islamic principles (e.g. pork or alcohol) is also ''haram'' ("sinful and prohibited"). These prohibitions have been applied historically in varying degrees in Muslim countries/communities to prevent un-Islamic practices. In the late 20th century, as part of the revi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Letters Of Credit
A letter of credit (LC), also known as a documentary credit or bankers commercial credit, or letter of undertaking (LoU), is a payment mechanism used in international trade to provide an economic guarantee from a creditworthy bank to an exporter of goods. Letters of credit are used extensively in the financing of international trade, when the reliability of contracting parties cannot be readily and easily determined. Its economic effect is to introduce a bank as an underwriter that assumes the counterparty risk of the buyer paying the seller for goods. Typically, after a sales contract has been negotiated, and the buyer and seller have agreed that a letter of credit will be used as the method of payment, the ''applicant'' will contact a bank to ask for a letter of credit to be issued. Once the ''issuing bank'' has assessed the buyer's credit risk, it will issue the letter of credit, meaning that it will provide a promise to pay the seller upon presentation of certain docume ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Finance
Trade finance is a phrase used to describe different strategies that are employed to make international trade easier. It signifies financing for trade, and it concerns both domestic and international trade transactions. A trade transaction requires a seller of goods and services as well as a buyer. Various intermediaries such as banks and financial institutions can facilitate these transactions by financing the trade. Trade finance manifests itself in the form of letters of credit (LOC), guarantees, or insurance, and is usually provided by intermediaries. Description While a seller (or exporter) can require the purchaser (an importer) to prepay for goods shipped, the purchaser (importer) may wish to reduce risk by requiring the seller to document the goods that have been shipped. Banks may assist by providing various forms of support. For example, the importer's bank may provide a letter of credit to the exporter (or the exporter's bank) providing for payment upon presentation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
IRLeaks Attack On Iranian Banks
In August 2024, an Iranian group called IRLeaks attacked Iranian banks. Politico described the attack as the “worst cyberattack” in Iranian history. According to Politico, the Iranian government was forced to pay millions of dollars to IRLeaks in ransom. Politico reported that 20 out of about 29 Iranian credit institutions fell in the attack. The Iranian central bank, the Post Bank of Iran and the Bank of Industry and Mines were amongst the banks hit in the attack. The attackers were likely freelance hackers seeking financial gain. The attack occurred after the release of reports that Iranian hackers intervened in the 2024 presidential American elections. Overview IRLeaks, in their attack, collected data on millions of Iranian customers, including their credit card details. IRLeaks sought to sell their data on the dark web for 10 million dollars. Iran was forced to block ATMs in the country. 20 out of 29 Iranian banks were hit including Sarmayeh Bank, Post Bank of Iran, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bond Market
The bond market (also debt market or credit market) is a financial market in which participants can issue new debt, known as the primary market, or buy and sell debt security (finance), securities, known as the secondary market. This is usually in the form of bond (finance), bonds, but it may include notes, bills, and so on for public and private expenditures. The bond market has largely been dominated by the United States, which accounts for about 39% of the market. In 2021, the size of the bond market (total debt outstanding) was estimated to be $119 Trillion (short scale), trillion worldwide and $46 trillion for the US market, according to the Securities Industry and Financial Markets Association (SIFMA). Bonds and bank loans form what is known as the ''credit market''. The global credit market in aggregate is about three times the size of the global equity market. Bank loans are not securities under the U.S. Securities and Exchange Act, but bonds typically are and are therefore ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
