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Rating of Iranian Banks to Be Made Public

After previous announcements by the Central Bank of Iran that ratings of banks will not be publicly disclosed, the economy minister has now said people will be made privy to the ratings
Economy Minister Masoud KarbasianEconomy Minister Masoud Karbasian
Banks will be rated in terms of their performance, volume of capital and other indicators and standards

The controversial and pending case of illegal credit institutions in Iran has seemingly prompted the administration to make a U-turn regarding its previous scheme to rate certified financial institutions.
“After the illegal financial and credit institutions hurt a lot of depositors, the government put a new plan on its agenda to rate certified banks,” Minister of Economic Affairs and Finance Masoud Karbasian told the Persian newspaper Iran in a recent interview.
According to Karbasian, the banks will be rated in terms of their performance, volume of capital and other indicators and standards, while the ratings will be disclosed publicly “so that people can select their bank with complete knowledge”.
“The plan will be implemented in the next fiscal year that begins on March 21,” he added.

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