Baku, Azerbaijan, Aug 4
By Khalid Kazimov – Trend:
Iranian financial policy makers have agreed on new a new framework aimed at bringing transparency in the financial statements of banks.
The Central Bank of Iran (CBI) along with Ministry of Economic Affairs and Finance as well as Iran Audit Organization have agreed on the new framework for preparing financial statements of banks, Mehr news agency reported.
Under the new regulation, all financial institutions are required to provide the CBI with their financial statements by August 19, said Abbas Kamarei, a senior official with the CBI.
Iran’s banking system in order to integrate into the global financial system is required to properly enforce regulations on anti-money laundering and combating the financing of terrorism (AML/CFT).
Earlier this year, First Deputy Managing Director of the International Monetary Fund (IMF) David Lipton during his three-day visit to Tehran said described restructuring banks and strengthening the framework for anti-money laundering and combating the financing of terrorism (AML/CFT) as two important priorities for Iran.
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