Officials, Pundits Review Majlis Banking Reform Plan

Financial Tribune - Majlis Research Center, the investigative and analytical arm of the parliament, has published the results of a yearlong survey covering the views of top banking officials and pundits about a major parliamentary motion to implement banking reforms.

To reform the beleaguered banking sector, the administration of President Hassan Rouhani has drafted the Banking Reform Bill and the Central Bank Bill through the Ministry of Economic Affairs and Finance and the Central Bank of Iran respectively.

However, as the bills have undergone many revisions and are yet to find their way to the parliament, lawmakers devised their own reform plan with the intent of finding a middle road to overhaul the country’s financial sector after nearly three decades, MRC’s website reported.

The parliament’s vision was published a year ago and soon after, the research center asked the CEOs of all banks and institutions, along with many high-ranking officials, university professors and pundits, to give their views about the plan.

The findings of the research center indicate that responders welcomed the fact that the blueprint aims to review and reform current regulations and pays due attention to corporate governance, supervision, financial reporting standards, bankruptcy rules and international procedures regarding bankruptcy.

Responders referred to electronic banking development as positive, expressed satisfaction with the number of articles included in the plan, commended the plan’s endeavor to address various dimensions of the banking system and lauded it for including the elements of Central Bank Bill and Banking Reform Bill.