Iran parliament moves to rein in venal banking sector

Financial Tribune – The Majlis Economic Commission is preparing a bill In line with efforts to promote long-awaited transparency in the key banking sector.

If and when it becomes law, it will allow the people to have access to sensitive data about processes involved in granting big loans, the chairman of the commission said.

“It will focus mainly on bank loans, forestall distortion of banking resources and dismantle corruption,” IBENA quoted Elias Hazrati as saying.

“The objective is also to make it possible for the people to monitor all the processes involved in granting big loans, namely the amounts paid and the reason(s) for borrowing,” he said.