Economy, Business And Markets

Lacking Oversight

Lacking Oversight Lacking Oversight

Head of the ‘Iran Economy House’ has criticized the Central Bank of Iran for failing to meet its oversight duties, which he said had opened the way for the misconduct and malfunction of banks. Ibrahim Jamili said the national economy would not improve as long as banks fail in transparency and the CBI fails to supervise them, ILNA quoted him as saying on Monday. He also seemed to question government figures on the surge in investment and economic growth rates saying that independent experts should verify that investments had led to boosting domestic manufacturing. Independent data indicates that almost 70% of manufacturers lack normal relations with banks and lending institutions.