Money and Credit Council meets after two-year hiatus
Iran's Money and Credit Council has held its first meeting after a two-year hiatus.
During the meeting on Tuesday afternoon, which was chaired by Central Bank Governor Mahmoud Bahmani, the council members discussed national monetary and credit policies such as programs for granting loans.
The meeting was originally scheduled to be held on July 7, but the session was postponed due to the heavy dust storm which descended on the capital last week.
The Money and Credit Council, which is supposed to be one of the main pillars of the Central Bank system, was established in 1972.
The council is tasked with formulating the general policies of the Central Bank and supervising banking and monetary programs.
Iran's Fourth Development Plan (2005-2010) states that the members of the Money and Credit Council should be the economy minister or his deputy, the central bank governor or his deputy, the director or deputy director of the Management and Planning Organization (which has now been disbanded), two ministers selected by the cabinet, the commerce minister, two financial experts nominated by the CBI governor and approved by the president, the prosecutor general or his deputy, the chairman of the Chamber of Commerce, Industries and Mines, and representatives of the Majlis economic and budget committees.