Banks Facing Mergers
– In order to approach international financial banking standards, the CBI governor announced the possibility of banks mergers, as one option to increase banks’ capital; other options are raise their capital via investors’ paid-in capital or issue new stocks; this, in addition, will reduce costs of branch maintenance He assured account holders that their interest will be protected.
– The latest report by the Central Bank of Iran released a 9.8% inflation at the end of the 2nd month of the current Persian calendar year, which registers a 0.2% growth compared to the previous month. It seems that this is the last time with 1-digit inflation ratio. Based on the International Monetary Fund, this rate will reach above 11% at the end of the current year; this increase has been mostly attributed to fluctuations in the foreign currency market.