ICCIMA Reviews Banking Bill

The Banking Reform Bill, which is expected to reach the parliament in two months, was reviewed by the members of the Money and Capital Market Commission of the Iran Chamber of Commerce, Industries, Mines and Agriculture. They referred to the high cost of funds as one of the issues that will need further assessment and something that the bill fails to address, Banker.ir reported. The commission’s members stressed the simplification of processes in the banking system to combat corruption and said a logical distribution of resources is lacking in the bill. Kourosh Parvizian, the head of the commission and director of the Association of Private Banks and Institutions, emphasized that regulations prohibiting the banks from owning more than 1% of other banks and financial institutions must be revised.