61576
CBI  Priorities  for Next Year
CBI  Priorities  for Next Year
  1. Economy
  2. Business And Markets

Central Bank of Iran Priorities for Next Year

  1. Economy
  2. Business And Markets

Central Bank of Iran Priorities for Next Year

The Governor of the Central Bank of Iran has named bringing discipline to the banking system and structurally reforming it as "the most important plans of the bank during the next fiscal year" which begins on March 21.
"The new supervision system of the central bank is another one of its plans which is to be established for the first time," Valiollah Seif was also quoted as saying by banker.ir.
The main component of the plan, called the New Model of Supervision Over Banks, initiated by CBI in 2013 was presented to the Money and Credit Council for final approval on Feb. 1 and is said to be employing the latest in international banking experiences and practices.
As touted by CBI officials, local design, adaptability, flexibility, reduction of systematic risk and being regulation-oriented are among the most important characteristics of the new supervision model, based on which Iranian banks will fall under one of four categories regarding the level of supervision they will need.
According to Seif, "transparency in the financial statements of the banks is among other measures which have been put on the agenda of the central bank based on its authority."
Instilling transparency within the Iranian banking system has also been a recurring theme during the current fiscal year, with the CBI hard at work trying to make the banks conform to International Financial Reporting Standards.

Short URL : https://goo.gl/YXsJrK
  1. https://goo.gl/kgfwMc
  • https://goo.gl/FnkGF8
  • https://goo.gl/FlRxT5
  • https://goo.gl/DHANxt
  • https://goo.gl/BvZclR

You can also read ...

NISTC Could Undermine Suez Canal’s Importance
Iran and Azerbaijan inaugurated a short railroad in early March...
The 14.5% rise in workers’ minimum wage is one of the lowest wage growths witnessed in the last 10 years, though the economy has also experienced the lowest inflation rate in a decade.
After a 12-hour session, the Supreme Labor Council agreed to...
Iranian Lenders Hobbled by Big Bank Qualms
Iran's banking network has historically had a robust presence in...
[The burden of the government’s payment arrears to CBI lightened, posting a drop of 17 trillion rials ($450 million).
Data released by the Central Bank of Iran for the month ending...
The Law on Implementation of Article 44 of the Constitution does not allow dismissal of employees following the privatization of companies.
The remaining 323 out of 1,713 enterprises on the privatization...
1.5b Tons of New Metal Reserves
Over 1.5 billion tons of proven metal reserves have been...
Gold Down, USD Up
Bahar Azadi Gold Coin fell by 100,000 rials on Wednesday,...
Close to 60% of Turkey’s steel exports to Iran are made up of rails and profiles.
Representatives of the Turkish steel sector are interested in...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus