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Iranian banks get forex CDs approval

Tehran, December 15, 2008

The central bank will allow Iranian banks to issue certificates of deposits (CDs) denominated in foreign currencies, the official media reported.

The central bank said in a statement on Sunday that the total ceiling for CDs issued would be 1 billion euros ($1.3 billion). They will have a maturity of between one and five years and can be issued in euros, yen or UAE dirhams, it said.-Reuters




Tags: Iran bank | certificates of deposits |

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