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Banks Ordered to Provide Asset Reports

Banks Ordered to Provide Asset Reports Banks Ordered to Provide Asset Reports

The government has tasked banks and credit institutions to prepare a list of their movable and immovable assets categorized as surplus and non-surplus. The list must be submitted to the Central Bank of Iran by the end of the current fiscal year (ending March 19, 2016). The decision was made on Wednesday when Cabinet members held their weekly meeting, bina.ir reported. Under the new approval, financial institutions will need to keep providing the asset reports to the CBI annually. The administration also approved other directives regarding a newly-ratified law that seeks to remove production obstacles and help improve the national financial system, the report said, without giving further details.

Financialtribune.com