BAKU, Azerbaijan, December 12. The value of foreign assets of the Central Bank of Iran (CBI), other Iranian banks, and financial institutions rose by 18.2 percent at the end of the 6th month of the current Iranian year (September 22, 2023), compared to the previous period, Trend reports.
According to the latest data from Iran’s Central Bank, the mentioned value exceeded 28.6 quadrillion rials (about $682 billion) at the end of the 6th month.
In the corresponding period of the previous Iranian year (September 22, 2022), the value of foreign assets of Iran’s Central Bank and other Iranian banks and financial institutions was 24.2 quadrillion rials (about $576 billion).
Iran was removed from the SWIFT (Society for Worldwide Interbank Financial Telecommunication) system in 2018 when the US imposed new sanctions and expanded sanctions against Iran in connection with Iran's nuclear program.
The removal of Iran from this system created serious problems for the country's operations with the banks. This resulted in the fact that the branches and properties of Iranian banks in many countries remained almost unused.
---
Follow the author on X (Twitter):@BaghishovElnur
