Central Bank of Iran

Central Bank of Iran
بانک مرکزی ایران
	Seal of Central Bank of Iran
Ownership	100% state ownership
Governor	Mohammad-Reza Farzin
Central bank of	Iran
Currency	Iranian rial; IRR (ISO 4217)
Reserves	$130 billion (2017)
Reserve requirements	10% to 13%
Bank rate	15%
Interest paid on excess reserves?	Yes
	Standard tableau of Central Bank of Iran
Organization overview
Formed	9 August 1960
Preceding organization	Bank Melli Iran2;
Jurisdiction	Islamic Republic of Iran
Headquarters	CBI Tower, Tehran; 35°45′29″N 51°26′07″E / 35.758110°N 51.435209°E
Parent organization	None
Child agencies	Monetary and Banking Research Institute; Iran Banking Institute; Treasury of National Jewels; Security Printing and Minting Organization; Security Paper Mill; Islamic Republic Development Bank;
Key document	Banking and Monetary Act (1960);
Website	www.cbi.ir
	1 According to article 10(e) of the Monetary and Banking Act of (1972), CBI's capital "is fully paid up and wholly owned by the Government".; 2 Bank Melli Iran had supervisory functions and regulated the activities of all banks in Iran, while being the largest profit-making commercial bank in the country.

The Central Bank of Iran (CBI), also known as Bank Markazi, officially the Central Bank of the Islamic Republic of Iran (Persian: بانک مرکزی جمهوری اسلامی ايران, romanized: Bank Markazi-ye Jomhuri-ye Eslāmi-ye Irān; SWIFT Code: BMJIIRTH) is the central bank of Iran.

Established under the Iranian Banking and Monetary Act in 1960, it serves as the banker to the Iranian government and has the exclusive right of issuing banknote and coinage. CBI is tasked with maintaining the value of Iranian rial and supervision of banks and credit institutions. It acts as custodian of the National Jewels, as well as foreign exchange and gold reserves of Iran.^[7] It is also a founding member of the Asian Clearing Union, controls gold and capital flows overseas, represents Iran in the International Monetary Fund (IMF) and internationally concludes payment agreements between Iran and other countries.^[7]

In November 2023 after 50 years central bank was revamped fully and changed to include Islamic Republic Development Bank.^[8]

^ Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
^ Kasolowsky, Raissa (10 April 2018). King, Larry (ed.). "UPDATE 3-Iran clamps ceiling on dollar holdings in effort to support rial". Reuters. Archived from the original on 7 August 2018. Retrieved 6 August 2018.
^ "Effective Reserve Requirement at 2.1%". Financial Tribune. 24 July 2017. Archived from the original on 7 August 2018. Retrieved 6 August 2018.
^ Hafezi, Parisa (15 February 2018). King, Larry (ed.). "Iran raising deposit rates to control rial's depreciation, TV reports". Reuters. Archived from the original on 7 August 2018. Retrieved 6 August 2018.
^ Zahedi, Razieh; Azadi, Pooya (June 2018). Central Banking in Iran (PDF) (Report). Stanford Iran 2040 Project (Working paper ed.). Stanford University. Table 1, page 14. Archived from the original (PDF) on 11 September 2018. Retrieved 14 August 2018.
^ Cite error: The named reference Basseer, Clawson, Floor was invoked but never defined (see the help page).
^ ^a ^b Cite error: The named reference Yeganeh was invoked but never defined (see the help page).
^ "ضمانت استقلال و اقتدار بانک مرکزی با قانون جدید". dolat.ir (in Persian). Retrieved 25 February 2024.

[dnbinfo-1] Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.

[2] Kasolowsky, Raissa (10 April 2018). King, Larry (ed.). "UPDATE 3-Iran clamps ceiling on dollar holdings in effort to support rial". Reuters. Archived from the original on 7 August 2018. Retrieved 6 August 2018.

[3] "Effective Reserve Requirement at 2.1%". Financial Tribune. 24 July 2017. Archived from the original on 7 August 2018. Retrieved 6 August 2018.

[4] Hafezi, Parisa (15 February 2018). King, Larry (ed.). "Iran raising deposit rates to control rial's depreciation, TV reports". Reuters. Archived from the original on 7 August 2018. Retrieved 6 August 2018.

[5] Zahedi, Razieh; Azadi, Pooya (June 2018). Central Banking in Iran (PDF) (Report). Stanford Iran 2040 Project (Working paper ed.). Stanford University. Table 1, page 14. Archived from the original (PDF) on 11 September 2018. Retrieved 14 August 2018.

[Basseer,_Clawson,_Floor-6] Cite error: The named reference Basseer, Clawson, Floor was invoked but never defined (see the help page).

[Yeganeh-7] Cite error: The named reference Yeganeh was invoked but never defined (see the help page).

[8] "ضمانت استقلال و اقتدار بانک مرکزی با قانون جدید". dolat.ir (in Persian). Retrieved 25 February 2024.

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Organization overview
Seal of Central Bank of Iran
Ownership	100% state ownership^[1]
Governor	Mohammad-Reza Farzin
Central bank of	Iran
Currency	Iranian rial IRR (ISO 4217)
Reserves	$130 billion (2017)^[2]
Reserve requirements	10% to 13%^[3]
Bank rate	15%^[4]
Interest paid on excess reserves?	Yes^[5]

Standard tableau of Central Bank of Iran
Formed	9 August 1960; 63 years ago (1960-08-09)
Preceding organization	Bank Melli Iran²
Jurisdiction	Islamic Republic of Iran
Headquarters	CBI Tower, Tehran 35°45′29″N 51°26′07″E / 35.758110°N 51.435209°E / 35.758110; 51.435209
Parent organization	None
Child agencies	Monetary and Banking Research Institute Iran Banking Institute Treasury of National Jewels Security Printing and Minting Organization Security Paper Mill Islamic Republic Development Bank
Key document	Banking and Monetary Act (1960)
Website	www.cbi.ir

¹ According to article 10(e) of the Monetary and Banking Act of (1972), CBI's capital "is fully paid up and wholly owned by the Government". ² Bank Melli Iran had supervisory functions and regulated the activities of all banks in Iran, while being the largest profit-making commercial bank in the country.^[6]