December 8, 2012
Today, Iran’s banking system, day by day is sinking in bad loans, that seem to continue to pile up, as the time goes on. The “Ticarete Farda” newspaper recently reported that after Mahmoud Ahmadinejad became president in 2005, the amount of bad loans rose by $57 billion in the last 7,5 years. The newspaper compared […]
May 29, 2012
Since Iran’s Central Bank has been banned from using Worldwide Interbank Financial Telecommunication (SWIFT), the Islamic Republic announced they now have an alternative system implemented, according to Governor of the Central Bank of Iran (CBI) Mahmoud Bahmani. He said the new system has already been activated and that it tends to substitute SWIFT. Whether it […]
March 24, 2012
The Iranian banks will probably try to use Russian and Chinese banks to do their transactions indirectly, instead of using SWIFT, Professor of chemical engineering in Southern California University, Muhammad Sahimi said.