Industry of Iran with international markets necessary for global competition, cumbersome bureaucratic procedures, shortage of skilled labor, lack of intellectual property protection, shortage of research centers, lack of social capital, social learning, social responsibility and socio-cultural values. Despite these problems, recent studies reveal that over the past few years Iran has progressed rapidly in various scientific and technological fields. Major advancements have taken place in the petrochemical, pharmaceutical, aerospace, defense, and heavy industry sectors. Even in the face of U.S. economic sanctions, Iran appears to be emerging as an industrialized country. Tehran is the economic centre of Iran. About 30% of Iran’s public-sector
Central Bank of Iran of the Asian Clearing Union, controls gold and capital flows overseas, represents Iran in the International Monetary Fund and internationally concludes payment agreements between Iran and other countries. The first attempt at introducing paper currency in Iran occurred during the Mongol Ilkhanate of the 13th century CE. The innovation, developed in Song Dynasty China, did not take hold in Iran, and paper currency did not return to Iran in any significant manner for several centuries. In 1889, the British-owned Imperial Bank of Persia ("Bānk-e Šāhī") was founded and it was given the exclusive right to issue bank notes in Iran.