CBI Tightening Hold on Shadow Banks
CBI Tightening Hold on Shadow Banks

CBI Tightening Hold on Shadow Banks

CBI Tightening Hold on Shadow Banks

At the request of the Central Bank of Iran, a department will be set up in one of the Tehran prosecutor's offices for investigating any violation made by the executives and shareholders of uncertified credit institutions.
This was announced in the latest meeting of Money and Credit Council, the nation's highest financial decision-making body, on Tuesday at the proposal of Prosecutor General Mohammad Jafar Montazeri, the official news website of CBI reported.
At the MCC meeting, CBI Governor Valiollah Seif presented the policymaker's latest report on handling the last of the illegal credit institutions and vowed to help return the lost deposits of people.
Shadow banks had previously owned a quarter of the country's liquidity, but as Seif said in an interview with Mehr News, "their share of the money market has currently been reduced to zero". As part of Tuesday's meeting, MCC also decreed that each traveler, including Iranian citizens or foreign nationals, is only allowed to bring in or take out a sum up to a ceiling of 50 million rials ($1,190) and will face punitive action in case of violating the ceiling.   

Short URL : https://goo.gl/SRDVjS
  1. https://goo.gl/4b5s6Z
  • https://goo.gl/vL7vHt
  • https://goo.gl/mvUyZq
  • https://goo.gl/xBhupc
  • https://goo.gl/xxAMs5

You can also read ...

Audi CEO Arrested Over Diesel Scandal
Audi CEO Rupert Stadler was arrested in Munich on Monday in...
Stadler Rail’s business with Iran is worth billions of Swiss francs.
In early March, the Swiss Embassy in Tehran gladly announced a...
Iran to Increase Exports to US Despite Sanctions
A senior Iranian trade official has announced that the country...
Grab Clinches Deal With HSBC
Ride-hailing startup Grab has secured a $370 million five-year...
Iran Proposes to Set Up IMO Offices in West Asia
The Ports and Maritime Organization of Iran has announced its...
Over 2.55 billion shares worth $169.2 million were traded at TSE on June 18.
Tehran stocks showed no signs of backing down on their rally,...
Trends in Housing Sales, Rents
The Statistical Center of Iran has presented crucial data...
The Central Insurance of Iran (Bimeh Markazi) is the industry’s main regulator. 
In its latest report on Iran's insurance sector, Capital...

Add new comment

Read our comment policy before posting your viewpoints