Banks Reveal Names of Subsidiaries to CBI
Economy, Business And Markets

Banks Reveal Names of Subsidiaries to CBI

Close to 29 of commercial banks have revealed to Iran’s Central Bank the names of the firms they own, said the deputy governor of the CBI on Monday.

The remaining five banks are to announce the list of their companies in two days, said Hamid Tehranfar, “after they are done with making necessary revisions and finalizing the list.”
According to Tehranfar, 600 corporations are owned by banks, whose assets and equities total 2666 trillion rials ($100 billion), comprising 48-49 percent of the banks’ total capital. With the help of the CBI this amount should be reduced to 40 percent to conform to the monetary and banking act.
“The commercial banks are set to sell the surpluses of their firm assets and equities in near future,” said Tehranfar.
About two weeks ago, the central bank had instructed commercial banks to provide it with the list of companies that the banks either had ownership in their capital or in their corporate bodies.
The deputy said the CBI announcement was welcomed by commercial banks, which is represented in the fact that a majority of them did what they had been asked to do and met the deadline.
This is while four days ago, when the deadline expired, concern was raised among some experts who believed commercial banks had not taken the warning of the CBI seriously. They even went so far as to say that the CBI needed to take serious action to force them to obey the regulations.   
Details which they are supposed to submit to the central bank include, the value of their ownership in other companies, the area in which the sub-corporation works in and their total numbers of shares, all of which will be revealed to the public at a later stage.

Short URL : http://goo.gl/o6R8HJ

You can also read ...

Alcatel’s Android Go Cellphone in the Offing
Two of the phones Alcatel revealed last month will be coming...
NASA Seeks Help to Check Satellites
NASA is asking all cloud gazers to snap photos of the sky and...
Iran has signed a contract with China Railway Group Limited in 2015 to build a 415-km (260-mile) high-speed north-south rail line between Tehran and Isfahan via Qom.
The Economy Ministry sold 2 trillion rials ($41.6 million) of...
Banque Delubac Ready to Service Iranian Businesses
Executives with Banque Delubac and Cie, an independent French...
Trade With Afghanistan Tops $2b
Iran and Afghanistan exchanged 5.32 million tons of non-oil...
$92m Worth of Gov’t Debts to Be Cleared in Swap Deal
The government has decided to clear over 4.45 trillion rials...
Iran-Lithuania Trade Falls 44% in 2017
Trade between Iran and Lithuania stood at more than €11.1...
Gov’t, Workers, Employers Deadlocked in Setting Minimum Wage
With only a day left for the Supreme Labor Council to set the...