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. Bank's functions are 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.