19730
Minister Calls for Banking Reforms
Economy, Business And Markets

Minister Calls for Banking Reforms

Minister of Economy Ali Tayyebnia has called for fundamental reforms in the banking system, saying an integrated system should be created in the banking sector to collect customers’ information and avoid toxic loans, an issue threatening the industry in a serious way. He said the loans provided by banks over the last three years have increased by 60% in value and statistics show that NPLs ratio has now decreased to 12.2%, IRNA reported on Tuesday. In the past couple of years, the government has helped form specialized courts, anti-economic corruption committee and a working group in the Central bank of Iran to address rising NPLs, he said. He also rejected the criticism that the Money and Credit Council dictated the government’s policies to the CBI, saying: “To promote CBI’s independence, the presidency of the council was given to the governor of the central bank, so the economy minister has little impact on monetary policymaking.”

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

You can also read ...

US Won’t Block  European Trade  With Iran
US Secretary of State Rex Tillerson said the Trump...
A delegation headed by First Vice President Eshaq Jahangiri was in Ankara on Thursday and reached several deals.
Following several rounds of negotiations between Iranian and...
All SP Gas Field Phases to Be in Full Swing by March 2019
The South Pars mega project has registered a work-in-progress...
Evaluating Economic Impact of Shifting Iran-KRG Relations
Iran and the Iraqi Kurdistan Regional Government have...
Russia Grain Exports to Iran Reach 220K Tons
Over the first nine months of 2017, exports of Russian wheat,...
Iran’s Red Meat Output Meets 90% of Demand
A glance at Iran’s meat packing industry shows red meat...
Armenia Export Growth in Iran Tops 11%
Armenia has recorded an unprecedented growth in exports to...
Tehran Forex Market Experiencing Steady Days
After the recent rally that considerably pushed up the value...

Trending

Googleplus