Baku, Azerbaijan, May 18
By Khalid Kazimov – Trend:
Iranian government is expected to propose a bill to parliament on reforms in the country’s banking sector in summer, the Central Bank of Iran (CBI) said.
The governor of the CBI, Valiollah Seif, has forecasted that the government would submit the banking reform bill to parliament by June 21, Ibena (Iranian banks and economy news agency) reported.
He further added that the cabinet is currently probing into the bill.
The new regulations which are expected to replace the current usury-free banking law will oblige credit institutions to provide viable information, put in place a professional set of criteria for choosing new top executives and board members and make provision for setting up internal risk and auditing committees.
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