Following the
Islamic Revolution, Iran's banking system was transformed to be run on an
Islamic interest-free basis. As of 2010 there were seven large government-run commercial banks. As of March 2014, Iran's banking assets made up over a third of the estimated total of Islamic banking assets globally. They totaled 17,344 trillion
rials, or US$523 billion at the free market exchange rate, using
central bank data, according to
Reuters.