Central Bank of Iran

 

Central Bank of Iran

The Central Bank of Iran (CBI) was established in 1960 (1339 solar year). 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.

 

“BANK MARKAZI JOMHOURI ISLAMI IRAN” is the central bank of the Islamic Republic of Iran. The Central Bank of Iran (CBI) was established in 1960 (1339 solar year). 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. Four 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

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.

After the Islamic Revolution of Iran laws and regulations pertaining to money and banking institutions and monetary policy design and implementation were amended to reflect the priorities and principles as set out in the Constitution of the Islamic Republic of Iran. At present, CBI is responsible for the design and conduct of monetary policy within the context of government’s five year development plan and annual budget. In line with the articles of the constitution, the monetary and credit policies are formulated and implemented in consistent with the MBAI as amended, Usury-Free Banking Act of 1983, the Banks Nationalization Act of 1979, and the Law for the Administration of Banks, of 1979.

 

Governors

Appointment dates of the Governors of the CBI since its establishment.

Firstname Lastname Date
Ebrahim Kashani 19601
Ali Asghar Poor Homayoon 1961
Mahdi Samii 1964
Khodadad Farmanfarmayan 1969
Mahdi Samii 1970
Abdolali Jahanshahi 1971
Mohammad Yeganeh 1973
Hassan-Ali Mehran 1975
Yoosef Khoshkish 1978
Mohammad Ali Molavi 1979
Alireza Nobari 1979
Seyyed Mohsen Nourbakhsh 1981
Majid Ghasemi 1986
Seyyed Mohammad Hossein Adeli 1989
Seyyed Mohsen Nourbakhsh 1994
Mohammad Javad Vahaji (DeputyGovernor)2 2003
Ebrahim Sheibany 2003
Tahmasb Mazaheri 2007
Mahmud Bahmani 2008
Valiollah Seif 2013

 

  1. Central Bank of Iran was established in 1960
  2. According to Monetary and Banking Law, Article 19 , Note C, Mr Mohammad Javad Vahaji, Deputy Governor, shall wield all the powers of Governor Nourbakhsh after his demise in the early 2003

100000RLS-back 100000RLS-front nr200Rls nr100Rls

 

http://www.cbi.ir/