Veteran bankers defy Iran’s new banking bill

Financial Tribune – The Majlis ratified the outlines of banking rules under the “Comprehensive Islamic Banking Bill” in December. It includes three sets of regulations regarding the Islamic Banking Bill, Central Bank of Iran Bill and setting up an Iran Development Bank.

A group of banking experts, including former governors of Central Bank of Iran, has criticized provisions of a new banking bill as ambiguous, impractical and lacking informed analysis.

Not denying the positive elements of the bill, the experts, who attended a banking conference on Monday, were unanimous in the view that the bill must be built on the need for structural reforms.

The Majlis ratified the outlines of banking rules under the “Comprehensive Islamic Banking Bill” in December.

The CIBB includes three sets of regulations regarding the Islamic Banking Bill, Central Bank of Iran Bill and setting up an Islamic Republic of Iran Development Bank.