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Iran’s Central Bank vows support for virus-hit businesses

Domestic Economy Desk

Moroccan lawmakers to probe banks in bid to overhaul economy

Moroccan lawmakers will investigate the profitability of banks before switching focus to cement makers as the government seeks to rally companies behind its efforts to revamp the economy and spur growth.

Two Afghan banks to open branches in Chabahar port

Iran has approved two Afghan banks to open branches in its southeastern strategic port of Chabahar, announced Secretary General of Iran-Afghanistan Joint Chamber of Commerce Mozafar Alikhani.

Iranian banks’ foreign assets up over 17%

The total value of Iranian banks’ foreign assets by December 21, 2019 stood at about $246.19 billion, registering a 17.3-percent rise compared with the corresponding period last year.

Zarif: Iranian bank to open branch in India

Iranian Foreign Minister Mohammad Javad Zarif said Bank Pasargad plans to open a branch in India to facilitate bilateral trade between the Iran and the South Asian country.

Iranian banks selling $1.4b in assets amid overhaul: Report

Nearly $1.4 billion worth of assets owned by 18 Iranian banks are being sold off as the banking system goes through a massive restructuring program aimed at optimizing the nation’s financial institutions.

Iranian banks’ balance sheet grew by 27.4% to hit $188b in Aug.: CBI

The Central Bank of Iran (CBI) said that the total balance sheet of the banks operating in the country grew by more than a quarter year-on-year in late August to reach more than $188 billion.

African Export-Import Bank delays IPO over unfavorable markets

African Export-Import Bank postponed an initial public offering on the London Stock Exchange until equity markets improve.

Major South Korean banks back bitcoin startup Coinplug’s $6.4m round

Coinplug, one of the earliest bitcoin exchange, wallet and payment startups in South Korea, has raised 7.5 billion won, or $6.4 million, from venture arms of major local financial institutions.

China’s central bank boosts liquidity ahead of tax payment surge

China’s central bank used open-market operations to inject the largest amount of cash into the banking system since May, as upcoming corporate tax payments tighten liquidity conditions.

Merger of military banks to complete in late Dec.: Iran

Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati said the much-anticipated merger of military-affiliated banks will complete in around late December.

Kenya’s biggest bank chases down defaulters to stem loan losses

KCB Group Plc is pursuing defaulters as Kenya’s biggest lender combines recently purchased National Bank of Kenya Ltd. into its operations.

Iranian bank allowed to open branches in Iraq: Official

An Iranian private bank has been authorized by the Central Bank of Iraq to open seven branches in the neighboring Arab country, an official said.

More than a third of UK bank branches have closed since 2015

More than a third of the UK’s bank branches have shut for good in less than five years, while hundreds of those that remain have reduced their opening hours, according to a report.

Qatar's central bank issues $164m treasury bills

Qatar Central Bank (QCB) issued treasury bills for three, six and nine months with a value of 600 million Qatari riyals (roughly $164 million), the bank said in a statement.