41233
Majlis Told to Suspend Banking Reform Bill
Economy, Business And Markets

Majlis Told to Suspend Banking Reform Bill

Central Bank of Iran Governor Valiollah Seif has urged parliament to suspend the controversial banking reform bill due to be debated by lawmakers in the coming days.  
Behrooz Bonyadi, a newly-elected MP, said the governor had sent a letter to Parliament Speaker Ali Larijani on Monday, announcing his objection to the proposed bill,” Eghtesadnews.com reported.
“The government and the CBI do not approve of the bill,” Bonyadi said.
“Although the banking sector had not had a stellar performance in recent years, overhauling rules should not add to the problems [of the banking sector].”
The draft version of the banking reform bill was sent to the lawmaking body in mid-April, though it was supposed to be finalized during the previous administration whose tenure ended in 2013. 
Informed sources say the government wants the bill debated in the incoming parliament in which the majority reportedly comprises of pro-government legislators, or as some say “possibly less antagonistic” toward the Rouhani administration.   The current parliament– with the majority MPs having failed to be reelected – seems determined to pass the bill before its tenure ends in late May.
 Among other things, the draft bill proposes founding a body at the CBI  to supervise the reh banks’ compliance with Sharia-based regulations. The body would comprise the CBI governor, his deputy for supervisory affairs, five Muslim clerics with expertise in banking and monetary issues and a legal expert.
Simplifying banking services, improving efficiency, adjusting interest rates with real economic conditions and upholding Islamic banking norms are among other measures envisioned in the bill.
Bonyadi criticized that CBI for falling short in improving the banking sector. However, he admitted that the bank had “managed to stabilize markets and lower the rate of inflation.”

Short URL : http://goo.gl/EuuJxy
  1. http://goo.gl/0NRFdl
  • http://goo.gl/KheCnI
  • http://goo.gl/vd3805
  • http://goo.gl/PcsD8k
  • http://goo.gl/tgSEmp

You can also read ...

Forex Rates Decline Continues in Tehran Market
The currency market in Tehran stabilized further on  Sunday...
Trump Tactic to Sanction Swift May Not Work
The Trump administration abandoned the Iran nuclear deal this...
Iran's 9-Month Trade With China Grows 1.8% to $29b
China remains the top customer of Iran’s oil and non-oil goods...
36% Rise in Iran's Cigarette Tax Revenues
The government earned 2.5 trillion rials ($17.48 million) from...
Snapshot of Iran's Nomadic Economy
The findings of the recent National Population and Housing...
Iran H1 Steel Exports Top 3.5m Tons
Major Iranian steelmakers exported a total of 3.51 million...
Czech Republic Looking to Strengthen Iran Business Ties
High-level private sector officials of Iran and the Czech...
Q1 Production Index Signals Lackluster Industrial Performance
Iran's major industries staged a relatively weak performance...

Trending

Googleplus