Economy, Business And Markets

No Banking Fees for Gov’t Accounts

No Banking Fees for Gov’t AccountsNo Banking Fees for Gov’t Accounts

Any attempt by Iranian banking system to receive fees for providing services to government-owned accounts lacks any legality, according to a letter forwarded by the Department of Financial Supervision and Treasury Affairs at the Ministry of Economic and Finance Affairs. “In implementing the regulations notified to agent banks by the Central Bank of Iran as per the monetary and banking laws of the country, fees for any banking services rendered by lenders must be strictly authorized by the central bank,” reads the missive reported by Mehr News Agency. The rates of fees are to be determined by the central bank and would have to be approved by the decision-making body, the Money and Credit Council.


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