The general manager of anti money-laundering division of the Central Bank of Iran has announced that the “corporate governance directive” will be communicated “within the next few days” to all commercial lenders. Referring to the development of corporate governance laws, Abdolmehdi Arjmandnejad said at the 26th annual Conference on Monetary and Exchange Rate Policies that to devise this law, views of state-owned and private banks have been taken into consideration, Risk News reported. He stressed the importance of knowing one’s responsibilities as a member of a bank’s board of directors. Referring to the example of a person who was on the board of 10 different corporations, Arjmandnejad said such a person is unfit to oversee a bank’s performance.
