Iran's CB Warns Against Majlis Bid to Change Banking Law

The board of directors of the Central Bank of Iran has warned about consequences of the new legislation related to the banking and monetary system.
In a meeting late on Wednesday, the board expressed serious concern about the potential “irreparable damages” and outlined flaws in the new banking bill being discussed in the Majlis.
Lawmakers last Sunday decided to give urgency to debating the bill as part of broader banking laws. The bill, among things, calls for structural changes in the central bank.
Highlighting the need for new legislation from which complementary rules would be possible, the board criticized procedures through which rules are drafted. “The [planned] legislation has not gone through the right path.”