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Governor of Central Bank of Iran

Non interest banking bill goes to parliament

Service : Politic
Governor of Central Bank of Iran says that by the end of this month, two bills will be sent to parliament to be reviewed and approved; the subject is non interest banking in line with the evolution of the banking system.
Monday, July 25, 2016 12:31:13 PM
Non interest banking bill goes to parliament

Islamic Consultative Assembly News Agency – "In order to make evolution in the banking system of Iran, two bills will be sent to parliament for reviewing and approving after being approved in the cabinet in the current month", said ValiOllah Seif.

Islamic banking is banking or banking activity that is consistent with the principles of sharia - Islamic law - and its practical application through the development of Islamic economics. As such, a more correct term for Islamic banking is sharia compliant finance.

ValiOllah Seif was nominated as Governor of Central Bank of Iran by the Bank's Board of Directors and was accepted by President Hassan Rouhani. He was officially appointed on 2 September 2013 and quickly hinted that interest rates should rise in order to control inflation in the country. He is currently Vice President of the International Chamber of Commerce.

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