21287
Police Set to Help CBI
Economy, Business And Markets

Police Set to Help CBI

To regulate credit and financial institutions, Iran’s police are set to take legal action against the establishment of new branches of uncertified credit institutions across the country, in a move to help organize the unregulated money market, Eghtesad News website reported on Tuesday, without citing a source. With law enforcement forces now being directly involved in disciplinary measures against unlicensed institutions, the central bank hopes to get rid of the 6,000 uncertified financial companies. The institutions include interest-free credit unions, cooperatives, bureaux de change and leasing firms. According to latest statistics, nine large credit institutions are operating in Iran, only three of which have central bank permits. The judiciary’s reports show 300 leasing firms are working unchecked, endangering the public money. Out of 1,600 bureaux de change, the reports say, only 428 have the operation license. More than a quarter of 204 credit cooperatives also lack the regulator’s permit.

 

Short URL : http://goo.gl/P7pp7D

You can also read ...

US Looking East After Fining Europe Over Iran Business
The US effort to put Iran in a financial bind meant European...
Depending on Iran’s progress in completing its action plan, FATF will take further steps in June 2018.
The Financial Action Task Force has recognized measures taken...
Proses has offered to explore a possible SISP at the world class Mehdiabad zinc (lead and silver) project in Iran where it has a role in development planning.
British mining and mineral processing technology company...
Crimean Ports Under Sanctions Looking for Way Out to Iran
Crimea’s ports, which are not operating at full capacity due...
Iran’s Corruption Perceptions Index Improves
Iran’s score based on the Corruption Perceptions Index...
Iranian Internet Service Providers Under Scrutiny
In a bid to increase access to the Internet, the Communication...
Home Security Startup Taps Face-Recognition Tech
A team of engineers that worked on self-driving cars and...
SpaceX successfully deployed a satellite into low Earth orbit for the Spanish government.
SpaceX took a critical step Thursday toward making one of Elon...

Trending

Googleplus