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Central Bank of Iran

 

Central Bank of Iran Logo

The Central Bank of the Islamic Republic of Iran (CBI) (Persian: بانک مرکزی جمهوری اسلامی ايران, Bank Markazi Jomhouri Islami Iran) is the central bank of Iran.

 
 

It is entirely government owned. Among its major purposes are: maintenance of the value of the national currency, balance of payments as well as facilitating trade transactions and contributing to the economic advancement of the country. As stated in the Monetary and Banking Act of Iran (MBAI), CBI is responsible for the design and implementation of the monetary and credit policies with due regard to the general economic policy of the country.

As banker to the government, the CBI is mandated to keep government accounts, grant loans and credits to state enterprises and agencies. The CBI also covers such functions as lending facilities to banks, purchase and sale of government participation papers as well as other legal banking operations.

4 major objectives of CBI as stated in the MBAI are:


 
  Maintaining the value of national currency
   Maintaining the equilibrium in the balance of payments
   Facilitating trade-related transactions
   Improving the growth potential of the country

To achieve the objectives as stated in the MBAI, CBI is endowed with the responsibility of fulfilling the following functions:

   Issuance of notes and coins
   Supervision of banks and credit institutions
   Formulation and regulation of foreign exchange policies and transactions
   Regulation on gold transactions
   Formulation and regulation on transactions and inflow/outflow of Domestic currency

 

Central Bank of Iran HQ Location Map

Central Bank of Iran
HQ Address: Mirdamad Blvd
No.144, Tehran
Republic of Iran
Telephone: +98 21 2995 4855
Facsimile: +98 21 2995 4780
Website: www.cbi.ir
Email: G.SecDept@cbi.ir
Currency: Iranian Rial
Banking Hours:
Sunday - Wednesday :  8.00am - 4.00pm
               Thursday    :  8.00am - 12.00pm
 

 

Like other Central Banks in the world, the functions of Central Bank of the Islamic Republic of Iran include providing banking services to the Government of Islamic Republic of Iran and financial institutions, issuing the domestic currency, regulating commercial banks and other financial institutions, providing economic advice to the Government, conducting research and publishing information on monetary and other economic developments. Only notes and coins issued by the Central Bank shall be legal tender in Islamic Republic of Iran.
 
 

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