Parliament on Tuesday voted in favor of restructuring the top policy and decision-making body of the financial markets in the framework of plans to reform the Central Bank Law.
A new body is to be formed to function as the main authority of financial markets designated as the ‘Higher Board of the Central Bank,’ and will replace the existing Money and Credit Council (MCC).
The board will be headed by the governor of the Central Bank of Iran but with fewer members compared to the MCC.
According to IBENA, the economy minister or his deputy, head of the Plan and Budget Organization, two economists specializing in monetary and banking policymaking, two banking experts, one in legal affairs and the other in financial affairs, the CBI deputy for monetary policymaking and CBI's deputy for regulatory and supervisory affairs will sit on the new board.
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