CBI Strengthens Oversight of Banks

The Central Bank of Iran's decision to exercise stronger control of the balance sheets of banks and credit institutions will hinder their functions, the CBI vice governor for supervisory affairs said.
It had earlier announced plans to monitor the balance sheets at regular intervals of three months. Farhad Hanifi said by increasing oversight the regulator does not need to create any obstruction on banking activities.
"Banks are not going to be encumbered to grow [by monitoring their books]. We are sending a signal that we are watching their performance, particularly regarding issues that the CBI is highly sensitive about," he was quoted as saying by the IBENA, the news agency affiliated to Monetary and Banking Research Institute.