October 2011 No.61, Volume 6
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Iran-Related Designation Updates; Issuance of Iran-Related General License; Publication of Iran-Related Frequently Asked Questions
Iran-related Designation Updates; Issuance of Iran-related General License; Publication of Iran-related Frequently Asked Questions The following changes have been made to OFAC's SDN List: AMIN INVESTMENT BANK (a.k.a. AMINIB), No. 51 Ghobadiyan Street, Valiasr Street, Tehran 1968917173, Iran; Website http://www.aminib.com [IRAN]. -to- AMIN INVESTMENT BANK (a.k.a. AMINIB; a.k.a. "AMIN 1B"), No. 51 Ghobadiyan Street, Valiasr Street, Tehran 1968917173, Iran; Website http://www.aminib.com; Additional Sanctions Information - Subject to Secondary Sanctions [IRAN] [IRAN-E013902]. BANK KESHAVARZI IRAN (a.k.a. AGRICULTURAL BANK OF IRAN; a.k.a. BANK KESHAVARZI), PO Box 14155-6395, 129 Patrice Lumumba St, Jalal-al-Ahmad Expressway, Tehran 14454, Iran; all offices worldwide [IRAN]. -to- BANK KESHAVARZI IRAN (a.k.a. AGRICULTURAL BANK OF IRAN; a.k.a. BANK KESHAVARZI), PO Box 14155-6395, 129 Patrice Lumumba St, Jalal-al-Ahmad Expressway, Tehran 14454, Iran; Website www.agri- bank.com; alt. Website www.bki.ir; Additional Sanctions Information - Subject to Secondary Sanctions; all offices worldwide [IRAN] [IRAN-E013902]. BANK MASKAN (a.k.a. HOUSING BANK (OF IRAN)), PO Box 11365/5699, No 247 3rd Floor Fedowsi Ave, Cross Sarhang Sakhaei St, Tehran, Iran; all offices worldwide [IRAN]. -to- BANK MASKAN (a.k.a. HOUSING BANK - OF IRAN), PO Box 11365/5699, No 247 3rd Floor Fedowsi Ave, Cross Sarhang Sakhaei St, Tehran, Iran; P.O. Box 11365-3499, Ferdowsi Ave, Cross Sarhang Sakhaie St, Tehran, Iran; Website www.bank-maskan.ir; Additional Sanctions Information - Subject to Secondary Sanctions; all offices worldwide [IRAN] [IRAN-E013902]. -
Secondary Sanctions on the Iranian Financial Sector Create De Facto Embargo with Lasting Implications for the Biden Administration
Secondary Sanctions on the Iranian Financial Sector Create De Facto Embargo with Lasting Implications for the Biden Administration Abigail Eineman IRAN WATCH REPORT John P. Caves III January 2021 1 Introduction During their confirmation hearings last week in the U.S. Senate, President Joe Biden's key national security nominees noted that the new administration was prepared to return to the nuclear accord with Iran, but warned that such a return would not be swift. First, Iran would have to resume compliance with the accord's nuclear restrictions in a verifiable manner, according to Secretary of State designate Antony Blinken, at which point the United States would resume compliance as well. President Biden’s choice for director of national intelligence, Avril Haines, estimated during her confirmation hearing that “we are a long ways from that.”1 Compliance for the United States would mean reversing at least part of the Trump administration's “maximum pressure” campaign—a set of overlapping trade and financial restrictions on almost every part of Iran's economy. The outgoing administration made such a reversal more challenging, particularly as a result of the sanctions imposed on Iran's financial sector in the administration's final months. On October 8, 2020, the United States designated Iran’s financial sector pursuant to Executive Order (E.O.) 13902 and sanctioned eighteen Iranian banks.2 In doing so, the U.S. Treasury Department applied secondary sanctions to Iran's entire financial sector for the first time, potentially barring foreign entities from the U.S. financial system should they do business with Iranian banks. -
2016 Iran - Italy Summit
2016 IRAN - ITALY SUMMIT FIRST EDITION Building an Exclusive Community of Leaders for Growing their Enterprises in the two Countries and Regions May 16 and 17, 2016 ESPINAS PALACE HOTEL Tehran, Islamic Republic of Iran List of Participants Hossein ABDOLLAHIAN MAHAN AIR International Communications Manager Valiollah AFKHAMI RAD TRADE PROMOTION ORGANIZATION OF IRAN Chief Executive Officer Payam AFSARI KARDAN INVESTMENT BANK Chief Executive Officer Seyed Mousa AGHAYI LANKARANI INTERNATIONAL ENGINEERING COMPANY Vice President Mohsen Bahrami Arze AGHDAS TRADE FACILITATION COMMITTEE OF TCCIMA - ISLAMIC REPUBLIC OF IRAN Chairman Parviz AGHILI-KERMANI MIDDLE EAST BANK - ISLAMIC REPUBLIC OF IRAN Chief Executive Officer Bahador AHRAMIAN NAVARD YAZD INDUSTRIAL AND CONSTRUCTION STEEL Chief Executive Officer Arash AHRARI HAVAYAR CO. Sales Manager Marco AIROLDI BENETTON GROUP - ITALY Chief Executive Officer Parviz AKBAROFF RAHSHAR INTERNATIONAL GROUP International Business Manager Haitham AL OMARI FIDIA PHARMA MIDDLE EAST - UNITED ARAB EMIRATES General Manager Joubin ALAGHBAND IDIC Chief Executive Officer Amirali ALAVI BENETTON PARS - ISLAMIC REPUBLIC OF IRAN Managing Director 1 Juan Alvaro ALAYO AZCARATE START CITY Expert of Strategic Urban Planning Advisory Board Member BILBAO RIA 2000 - SPAIN former Director of Planning and Development Yahya AL'ESHAGH TCCIMA Member of the Board of Trustees Abbas ALIABADI MAPNA GROUP - ISLAMIC REPUBLIC OF IRAN Chief Executive Officer ALIZADEH TCCIMA Fiorella ALVINO UGHI E NUNZIANTE STUDIO LEGALE - ITALY Managing Partner Milan Office Alessandro AMADIO UNIDO Representative in Iran Farzad AMANPOUR SAMAN BANK Senior Advisor to BOD Vincenzo AMENDOLA MINISTRY OF FOREIGN AFFAIRS - ITALY Deputy Minister Behrouz AMINFARD BOLAND PAYEH COMPANY Chief Executive Officer Mohammad AMIRZADEH TCCIMA Chief Executive Officer Maurizio ANDREOLI FIMA ENGINEERING - ITALY Principal Partner Mohammad Reza ANSARI KAYSON INC. -
Billing Code 4810-Al Department
This document is scheduled to be published in the Federal Register on 10/14/2020 and available online at federalregister.gov/d/2020-22723, and on govinfo.gov BILLING CODE 4810-AL DEPARTMENT OF THE TREASURY Office of Foreign Assets Control Notice of OFAC Sanctions Actions AGENCY: Office of Foreign Assets Control, Treasury. ACTION: Notice. SUMMARY: The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons that have been placed on OFAC’s list of Specially Designated Nationals and Blocked Persons (SDN List) based on OFAC’s determination that one or more applicable legal criteria were satisfied. All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them. DATES: See Supplementary Information section for applicable date(s). FOR FURTHER INFORMATION CONTACT: OFAC: Associate Director for Global Targeting, tel.: 202-622-2420; Assistant Director for Sanctions Compliance & Evaluation, tel.: 202-622-2490; or Assistant Director for Licensing, tel.: 202-622-2480. SUPPLEMENTARY INFORMATION: Electronic Availability The SDN List and additional information concerning OFAC sanctions programs are available on OFAC’s Web site (www.treas.gov/ofac). Notice of OFAC Actions On October 8, 2020, OFAC determined that the property and interests in property subject to U.S. jurisdiction of the following persons are blocked under the relevant sanctions authorities listed below. Entities 1. AMIN INVESTMENT BANK (a.k.a. AMINIB; a.k.a. “AMIN IB”), No. 51 Ghobadiyan Street, Valiasr Street, Tehran 1968917173, Iran; Website http://www.aminib.com; Additional Sanctions Information - Subject to Secondary Sanctions [IRAN] [IRAN-EO13902]. -
Annual Report Annual Report
Tehran Stock Exchange Annual Report Exchange 2011 Stock Tehran Tehran Stock Exchange Address: No.228,Hafez Ave. Tehran - Iran Tel: (+98 021) 66704130 - 66700309 - 66700219 Fax: (+98 021) 66702524 Zip Code: 1138964161 Gun-metal relief discovered in Lorestan prov- ince, among the Achaemedian dynasty’s (550-330 BC)Antiquities. Featuring four men, hand in hands, indicating unity and cooperation; standing inside circles of 2011 globe,which is it, according to Iranian ancient myths, put on the back of two cows, ANNUAL symbols of intelligence and prosperity. Tehran Stock Exchange Implementation: CAPITAL&MARKET REPORT ANNUAL REPORT Tehran Stock Exchange 2011 Tehran Stock Exchange Tehran www.tse.ir Annual Report 2011 2 Tehran Stock Exchange Tehran www.tse.ir Mission Statement To develop a fair, efficient and transparent market equipped with diversified instruments and easy access in order to create added value for the stakeholders. Vision To be the region’s leading Exchange and country’s economic growth driver. Goals To increase the capital market’s share in financing the economic productive activities. To apply the effective rules and procedures to protect the market’s integrity and shareholders’ equity. To expand the market through using updated and efficient technology and processes. To promote financial literacy and develop investing and shareholding culture in Iran. To extend and facilitate the market access through information technology. To create value for shareholders and comply with transparency and accountability principles, with cooperation -
U.S. Department of the Treasury
U.S. DEPARTMENT OF THE TREASURY RECENT ACTIONS Enforcement Actions General Licenses Misc./Other Regulations and Guidance Sanctions List Updates Iran-related Designation Updates; Issuance of Iran-related General License; Publication of Iran-related Frequently Asked Questions 10/08/2020 The Secretary of the Treasury, in consultation with the Secretary of State, has identified the financial sector of the Iranian economy pursuant to Executive Order (E.O.) 13902. OFAC has issued Iran General License L - Authorizing Certain Transactions Involving Iranian Financial Institutions Blocked Pursuant to E.O. 13902. In addition, OFAC has published the following Iran-related Frequently Asked Questions (FAQs) 842, 843, 844, 845, 846, and 847. FAQ 845 provides a 45-day wind-down period for non-U.S. persons engaged in previously non-sanctionable activity involving the Iranian financial sector or Iranian financial institutions that are now sanctioned pursuant to E.O. 13902. Finally, OFAC has updated the following names on the List of Specially Designated Nationals and Blocked Persons: SPECIALLY DESIGNATED NATIONALS LIST UPDATE The following changes have been made to OFAC's SDN List: AMIN INVESTMENT BANK (a.k.a. AMINIB), No. 51 Ghobadiyan Street, Valiasr Street, Tehran 1968917173, Iran; Website http://www.aminib.com [IRAN]. -to- AMIN INVESTMENT BANK (a.k.a. AMINIB; a.k.a. "AMIN IB"), No. 51 Ghobadiyan Street, Valiasr Street, Tehran 1968917173, Iran; Website http://www.aminib.com; Additional Sanctions Information - Subject to Secondary Sanctions [IRAN] [IRAN-EO13902]. BANK KESHAVARZI IRAN (a.k.a. AGRICULTURAL BANK OF IRAN; a.k.a. BANK KESHAVARZI), PO Box 14155-6395, 129 Patrice Lumumba St, Jalal-al-Ahmad Expressway, Tehran 14454, Iran; all offices worldwide [IRAN]. -
Iran: State of the Art and Future Perspectives After the Reintroduction of All the Us Sanctions Against Iran
IRAN: STATE OF THE ART AND FUTURE PERSPECTIVES AFTER THE REINTRODUCTION OF ALL THE US SANCTIONS AGAINST IRAN AVV. MARCO PADOVAN AVV. MARCO ZINZANI Operating (or not) with Iran after the reintroduction of the second round of sanctions by the US Government Bologna, 9 November 2018 Sanctions against Iran between 16 January 2016 and 8 May 2018 - Free supply/export towards any Iranian person, entity or body or for the use in Iran - Prohibition for US persons to engage in transactions with Iran and with the of all goods, except for: Government of Iran except for operations conducted under an ad hoc or general authorisation; • those indicated in (EU) Regulation No. 267/2012; - General authorisations for, inter alia, medical devices (General License medical • specific goods which may be used with the purpose of internal devices); export of commercial passenger aircraft; import of Persian carpets and repression and control of telecommunication (EU Regulation foodstuff of Iranian origin, including pistachios and caviar. General License H No.359/2011); enabled non-US entities owned or controlled by a US person to establish trade relationships with Iran; • armaments (EU embargo in force until the Transition Day); - Designation of Iranian persons/entities suspected of committing human rights • the provision to designated persons/entities. violations, terrorism and engaged in missile proliferation; - Transactions with non-designated Iranian persons are allowed, as well as opening of - Prohibition for non-US financial institution to clear transactions -
Monetary and Banking Policy and Performance
ECONOMIC REPORT AND BALANCE SHEET 1387 MONETARY AND BANKING POLICY CHAPTER 14 AND PERFORMANCE Objectives Stipulated in the 4th FYDP Key Monetary Policies Approved in 1387 he year 1387 corresponds to the In 1387, for the first time, a collection of fourth year of the 4th Five-Year CBI's monetary, credit, and supervisory guide- Development Plan in the context lines titled as "Supervisory-Policy Package of the 20-Year Vision Plan. In of the Banking System" was declared to Taccordance with the 4th FYDP Law, allocation banks and credit institutions. Key monetary of banking facilities by the government and credit policies of 1387 are: in the form of sectoral or regional, as well as priorities concerning sectors and regions Lending rate on the facilities extended shall be carried out by giving incentives to by banks for transaction contracts was set at the banking system through cash subsidies 12 percent. Lending rate on the banking and administered funds. Obligations of facilities extended to SMEs and agricultural banks to provide facilities at lower rates, in projects was set at 10 percent, and the the form of Islamic contracts, are permissible government would pay 2 percent subsidy. provided that they are financed by the government subsidy or administered funds. The minimum expected lending rate on According to the 4th Plan, at least 25 percent facilities extended for participatory contracts of the facilities extended by all banks shall by banks (both public and private) and credit be allocated to water and agriculture sector, institutions was determined at the rates set for and the rise in outstanding scheduled transaction contracts. -
Evaluating the Efficiency and Productivity of Private And
Indian Journal of Fundamental and Applied Life Sciences ISSN: 2231– 6345 (Online) An Open Access, Online International Journal Available at www.cibtech.org/sp.ed/jls/2015/03/jls.htm 2015 Vol. 5 (S3), pp. 2171-2187/Ardekani and Yazdi Research Article EVALUATING THE EFFICIENCY AND PRODUCTIVITY OF PRIVATE AND STATE BANKS OF IRAN USING A COMBINATION OF DATA ENVELOPMENT ANALYSIS AND MALMQUIST INDEX OF PRODUCTIVITY Ali Sarafraz Ardekani1 and *Ali Fazel Yazdi2 1Department of Accounting, Payame Noor University, PO BOX 19395-3697 Tehran, I.R of Iran 2Young Researchers and Elite Club, Yazd Branch, Islamic Azad University, Yazd, Iran *Author for Correspondence ABSTRACT In this world, improving efficiency and productivity has become a competitive necessity. The present study seeks to examine the efficiency and productivity of private and state banks of Iran using a combination of data envelopment analysis and Malmquist index of productivity. The number of issued cards, the total number of domestic and foreign branches and total assets are considered as the inputs; the outputs include net profit and loss, balance of granted loans and claims and total deposits of 19 private and state banks of Iran over the years from 2007 to 2011. The results of efficiency analysis reveal that Sina Bank, Pasargad Bank, Karafarin Bank, Parsian Bank and Bank of Industry and Mine have the best operations over the years. Furthermore, productivity analysis showed that the average productivity rate for most banks is negative excluding Melli Bank, Mellat Bank, Bank of Industry and Mine, Export Development Bank of Iran, Eghtesad-e-Novin Bank and Pasargad Bank. -
FIN-2008-A002 Issued: March 20, 2008 Subject: Guidance to Financial Institutions on the Continuing Money Laundering Threat Involving Illicit Iranian Activity
Advisory FIN-2008-A002 Issued: March 20, 2008 Subject: Guidance to Financial Institutions on the Continuing Money Laundering Threat Involving Illicit Iranian Activity The Financial Crimes Enforcement Network (FinCEN) is issuing this advisory to supplement information previously provided1 on serious deficiencies present in the anti-money laundering systems of the Islamic Republic of Iran. The Financial Action Task Force (FATF) stated in October 2007 that Iran’s lack of a comprehensive anti-money laundering and combating the financing of terrorism (AML/CFT) regime represents a significant vulnerability in the international financial system. In response to the FATF statement, Iran passed its first AML law in February 2008. The FATF, however, reiterated its concern about continuing deficiencies in Iran’s AML/CFT system in a statement on February 28, 2008. Further, on March 3, 2008, the United Nations Security Council passed Resolution 1803 (UNSCR 1803), calling on all states to exercise vigilance over activities of financial institutions in their territories with all banks domiciled in Iran and their branches and subsidiaries abroad. The FATF statement, combined with the UN’s specific call for vigilance, illustrates the increasing risk to the international financial system posed by the Iranian financial sector, including the Central Bank of Iran. Iran’s AML/CFT deficiencies are exacerbated by the Government of Iran’s continued attempts to conduct prohibited proliferation related activity and terrorist financing. Through state-owned banks, the Government of Iran disguises its involvement in proliferation and terrorism activities through an array of deceptive practices specifically designed to evade detection. The Central Bank of Iran and Iranian commercial banks have requested that their names be removed from global transactions in order to make it more difficult for intermediary financial institutions to determine the true parties in the transaction. -
Korea and the World Economy XII: Toward Broader and Deeper Economic Collaboration in Asia
Ver. June 22 (final), 2013 The International Conference of the Association of Korean Economic Studies(AKES) on Korea and the World Economy XII: Toward Broader and Deeper Economic Collaboration in Asia Tehran, Isfahan and Shiraz, Iran June 25 – 29, 2013 Organizers: Insill Yi, President, The Association of Korean Economic Studies , Sogang University Kar-yiu Wong, Director, Research Center for International Economics , University of Washington Farhad Nili, Director, Monetary and Banking Research Institute of Central Bank of Iran .Byung -il Choi, President, Korea Economic Research Institute Tae Young Kang, President, POSCO Research Institute Kyuho Whang, President, SK Research Institute for SUPEX Management Organizing The Association of Korean Economic Studies (AKES) Units: Monetary and Banking Research Institute of Central Bank of Iran (MBRI) University of Washington Research Center for International Economics (RCIE) The Center for Excellence on International Economics, University of Isfahan (UI) Faculty of Entrepreneurship, University of Tehran (UT) Supporting Monetary and Banking Research Institute of Central Bank of Iran (MBRI) Units: Esfahan Chamber of Commerce & Industries & Mines (ECCIM) Faculty of Entrepreneurship, University of Tehran (UT) Shiraz Chamber of Commerce & Industries & Mines & Agriculture (SCCIMA) Bank Keshavarzi (Agricultural Bank), IR Tejarat Bank, IR EN Bank, IR Tourism Bank, IR Federation of Korean Industries (FKI) SK Telecom (SKT) SK Research Institute for SUPEX Management (SKRI) POSCO Research Institute (POSRI) KB -
Relations with International Monetary and Financial
ECONOMIC REPORT AND BALANCE SHEET 1388 RELATIONS WITH INTERNATIONAL MONETARY CHAPTER AND FINANCIAL ORGANIZATIONS 13 n 1388, Iran continued collaborations of fiscal position, raising of investment in and interactions with international energy sector, as well as higher and more financial institutions such as the Inter- stable growth rates. Moreover, they referred national Monetary Fund, the World to inflation expectation control through im- IBank, the Islamic Development Bank, Asian plementation of appropriate economic policies, Clearing Union, the Islamic Financial Services as well as prevention of quasi-fiscal opera- Board, and the Developing Eight. tions via the banking system as determining factors in restricting side effects of Iran Subsidy Reform Plan. International Monetary Fund (IMF) Discussions for the 1388 Article IV con- According to IMF executive directors, sultation were held in Iran to assess the success of energy carriers' price reform plan monetary, financial, foreign exchange, Special depends on effective and scheduled cash Data Dissemination Standards, and policy- compensation mechanisms aimed at helping making, as well as macroeconomic trends in low-income groups, as well as employment case of implementation of the 1st phase of of technical assistance to raise efficiency of Subsidy Reform Plan. energy utilization. During the discussion of the staff report IMF executive directors acknowledged that concluded the 2009 Article IV consul- positive performance of the Iranian economy, tation on February 4, 2010 (Bahman 15, 1388), in particular the achievement regarding no- the executive board reiterated the positive ticeable reduction of inflation rate through impact of high oil prices as well as imple- implementation of contractionary monetary mentation of strong expansionary fiscal and and fiscal policies, and the efforts made to monetary policies on Iranian economy's unify term investment deposit rates between performance over the recent years.