Bank and central bank

A bank is an economic institution that performs tasks such as providing and distributing credits, credit operations, and financial operations, buying and selling currencies, transferring funds, collecting documentary claims and dividends from customers, paying customers’ debts, accepting deposits, keeping stocks and securities and objects. Customers are responsible for performing the duties of guardianship and guardianship for customers, and acting as attorneys for purchases and sales.

The central bank’s duties include issuing banknotes and regulating the amount of money in circulation, maintaining precious metals and currencies belonging to the government, maintaining legal reserves and cash balances of commercial banks, creating credit facilities for commercial banks, performing settlement operations between banks, cashiering and representation. Finance for government banking operations, monetary policy implementation and credit volume control. This bank is responsible for controlling the banking network and managing the monetary policy of stability. This bank urges other banks to provide services and coordinate with the economy.

Shahneshahi Bank of Iran, the first bank of Iran, started printing and publishing banknotes for the first time in Iran during the reign of Nasser al-Din Shah Qajar, and in 1302, Melli Bank was responsible for printing banknotes during the Pahlavi regime, which was later handed over to the Central Bank of Iran.

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