Critical Condition of Iranian Banks
Jan 12, 2016
The research center of the Iranian Parliament has released a report on the banking system which is in “crisis,” warning that Iranian banks may be bankrupt soon.
Out of the 7,333 credit and financial institutions currently operating in the country, only 1,000 are authorized by the Central Bank and supervised by it. The rest, known as unauthorized institutions, have been established by certain organizations which are not necessarily accountable to the Central Bank, the report noted.
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