Bank Branch Managers Sacked for Flouting Interest Rate Rules

The Central Bank of Iran said Sunday it has sacked heads of bank branches for flouting rules related to interest rates on deposits. 
Las week the CBI said it was inspecting bank branches more closely to ensure they are offering interest in accordance with caps set by the Money and Credit Council (MCC).
In a press release published by IBENA, the CBI said some banks were also fined for violating the rules. It did not name names nor say which banks had been singled out. 
The CBI though added that most banks are playing by the rules and that it would rigorously continue the inspections.