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4 August 2024

Financial and Banking

Financial and Banking Services Pavilion

Iran's financial and banking industries constitute a significant part of the country's economy, encompassing a wide range of product groups and services:

Banking:

  • Traditional Banking Services: This group includes a wide range of banking services offered by commercial banks, such as deposit accounts, loans, credit cards, payment services, and treasury services.

  • Electronic Banking: With advancements in technology, electronic banking is growing in Iran. This group includes online banking, mobile banking, electronic money transfers, and online payment services.

  • Investment Banking: This group covers services related to investment and capital markets, including asset management, investment banking, and securities-related services.

Financial Services:

  • Insurance: This group includes insurance services provided by insurance companies, such as life insurance, property insurance, liability insurance, and health insurance.

  • Capital Markets: This group encompasses services related to the stock market, securities, and derivative financial instruments, including stock brokerage, investment fund management, and investment advisory services.

  • Leasing and Financial Renting: This group includes companies that provide leasing and financial renting services to businesses and individuals.

  • Islamic Financial Services: Given Iran's Muslim population, Islamic financial services are also prevalent. This group includes Islamic banking, Islamic insurance (Takaful), and Islamic financial instruments.

Financial Technologies (FinTech):

  • Digital Payments: This group includes companies that offer digital payment services, such as online payment gateways, e-wallets, and mobile payment systems.

  • Lending FinTechs: This group encompasses online platforms that provide lending services to individuals and businesses, often utilizing blockchain and artificial intelligence technologies.

  • Financial Advisory Robots: The use of artificial intelligence in financial advisory services is increasing. This group includes platforms that offer wealth management, financial planning, and investment advisory services.

Accounting and Auditing Services:

This group includes accounting and auditing firms that provide tax, accounting, auditing, and financial consulting services to businesses and individuals.