EghtesadOnline: All illegal credit institutions will be fully organized and sorted out by the Central Bank of Iran and the parliament up to the first half of the next fiscal year in late September, the head of Majlis Economic Commission said.
EghtesadOnline: Banks and credit institutions doled out more than 4.62 quadrillion rials ($102.66 billion) in loans to various sectors of the economy during the first 10 months of the current fiscal year to Jan. 20, the latest data by the Central Bank of Iran show.
EghtesadOnline: The International Monetary Fund has hailed efforts by the Central Bank of Iran in curbing the activities of a multitude of unruly credit institutions, which eluded the regulator's oversight for many years and imperiled the stability of the country's financial markets.
EghtesadOnline: The annual general meetings of major banks and credit institutions have run into a snag, as lenders struggle to incorporate the latest standards introduced by the Central Bank of Iran into their balance sheets, which issue has overshadowed Iranian lenders for nearly two years.
EghtesadOnline: The total arrears of 27 Iranian private banks and non-bank credit institutions to the Central Bank of Iran up to April 20 stood at 347.8 trillion rials ($9.2 billion), marking a drop of 9% compared to its previous month.
EghtesadOnline: As their deadline looms, banks and credit institutions are signing agreements that legally bind them to hand over information about the bank accounts of taxpayers to Iran National Tax Administration, an official with INTA announced.
EghtesadOnline: In order to protect the interests of banks and credit institutions' depositors and shareholders, and maintain the stability and health of banking system, the Central Bank of Iran has set a number of conditions vis-à-vis banks' financial statements whose fulfillment is necessary for shareholders' annual meetings to become viable.
EghtesadOnline: As part of an overarching policy of reforming the banking sector, the Central Bank of Iran has issued two executive directives concerning capital adequacy and international conformity standards for credit institutions and formation of credit cooperatives.
EghtesadOnline: As the heated case of uncertified credit institutions drags on, the parliament has given the Central Bank of Iran until March 2018 to wrap up the case.
EghtesadOnline: Private banks and credit institutions are in favor of lowering interest rates and they are currently holding negotiations in this regard with financial authorities, especially the Central Bank of Iran and the Money and Credit Council, the head of the Association of Private Banks said.