10328
Banking Activities Need Effective Supervision
Economy, Business And Markets

Banking Activities Need Effective Supervision

A parliamentarian has criticized the Central Bank of Iran for having failed to restrain illegal banking activities in the past years.
According to Mohammad Reza Pour-Ebrahimi Davarani, the Banking Disciplinary Board has started a probe into several banking and credit institutions violating banking regulations set by the regulator. “The move will bring about productive results,” he said.
The affairs of commercial lenders and credit institutions is one of the most pressing of the current issues in the domestic economy, ICANA quoted the lawmaker as saying.
The Monetary and Credit Council, he said, has recently decided to closely pursue the violation cases.
The MP affirmed that the CBI’s Banking Disciplinary Board now operates more effectively compared to the past.
He added that the parliament also supports the move and will revise the related laws if necessary.
In October, the CBI released a list of officially authorized banks and credit institutions.  In addition to the nine financial institutions excluded from the list the only commercial bank which did not appear on the list was Ayandeh Bank, which was surprisingly praised on Saturday during a ceremony attended by top monetary officials.
Of the several state-owned and private candidates, Ayandeh Bank was awarded with the national prize for financial management, Banker reported. 

Short URL : http://goo.gl/92x6fo

You can also read ...

Farzaneh Sharafbafi
The new chief at the helm of Iran Air might not be the first...
In a 2016 test, China and Iran drove a train from the port of Shanghai in eastern China to Tehran in just 12 days, a journey that takes 30 days by sea.
When Zuao Ru Lin, a Beijing entrepreneur, first heard about...
The Agricultural Data Management System has also helped the ministry purchase crops at guaranteed prices.
The Agriculture Ministry's Information Technology Department has...
Defense Ministry to Buy 12 Sukhoi Planes
Iran’s Defense Ministry has signed a contract with its Russian...
No Insurance for Unauthorized Moneychangers
The Central Insurance of Iran, the regulatory body of insurance...
$12 Billion in Foreign  Finance on the Way
Iran will sign new finance contracts worth $12 billion with...
Vintage Car Show in Fars Province
A vintage car show is set to be held in the city of Abadeh, in ...
EDBI Post-Sanctions Correspondent Ties Hit 120
The Export Development Bank of Iran, the country’s exim bank,...

Trending

Googleplus