He was officially appointed on 2 September 2013 and quickly hinted that interest rates should rise in order to control inflation in the country.

[3] He received gold medal for Public Relations from President Mahmoud Ahmadinejad in January 2011.

[5] On 2017, Seif's reputation was hit hard when one of the five official Central Bank-approved credit institutions was unable to pay back the deposits of the customers.

On 13 September 2018, immediately after dismissal from service he was designated as an advisor for financial and banking affairs of Hassan Rouhani.

Tehran Prosecutor General, Ali Alqasi Mehr accused Valiollah Seif of "repeatedly violating regulations" and of "dereliction of duty" Which has caused "Wasting" more than $30bn and 60 tonnes of gold reserves.