No Bank Interest for Executive Bodies

All executive bodies, including the three main branches of government, will be barred from receiving bank interests during the next fiscal year that begins on March 21. This was one of the measures approved by Majlis Joint Commission, the entity in charge of giving the preliminary endorsement to the budget bill, as part of its final reviews of the fiscal 2018-19 budget law, the commission’s spokesperson has announced. However, “banks, state-owned insurance companies, funds, universities and any executive bodies whose regulations or statutes allow them to receive bank interests, based on the approval of the commission, have been exempted from this ruling,” Ali Asghar Yousefnejad was also quoted as saying by ICANA, the official news portal of the parliament.