Iran but not with the United States, and not with Israel—a state which Iran's government has derecognized since the 1979 Revolution. Among Muslim nations, Iran has severe relationship with Saudi Arabia due to different political and Islamic ideologies while Iran is a Shia Islamic Republic and Saudi is a conservative Sunni monarchy. Regarding the Israeli–Palestinian conflict, the government of Iran has recognized Jerusalem as the capital of the State of Palestine, after Trump recognized Jerusalem as the capital of Israel. On 14 July 2015, Tehran and the P5+1 came to a historic agreement ("Joint Comprehensive Plan of Action") to end economic
Central Bank of Iran In 1890 it introduced the first bank notes in Iran, ranging from 1 to 1,000 tomans. The bank did not do much to strengthen the Iranian capital formation or support then-currency of Iran, qiran. The first state-owned Iranian bank, Bank Melli Iran was established in 1927 by the government of Iran. On 30 May 1930, it took the responsibility to function as Iran's central bank, and took the rights of the Imperial Bank for £200,000, while it acted as a commercial bank at the same time. The bank's primary objective was to facilitate government's financial transactions and to print and