Financial and Banking News
Iranian Banks Increase Deposit Rates
Iranian bank deposit rates for the year ending 20 March have been set at 7.5%for three-month deposits and 15% for five-year deposits, Central Bank GovernorMohammad Hossein Adeli said on 16 March. This is 1% more than the previousyear's payout. The rate of inflation is more than 20%. Iranian banks operateaccording to the principles of Islamic finance, which forbids the paying orreceiving...