MRC: Gov’t Should Be Responsible for Sale of Excess Assets of Banks

EghtesadOnline: The Majlis Research Center has proposed amendments to rules to help ease the sale of excess assets of state-owned banks.

News ID: ۷۵۲۳۰۹

28 February 2023

The Majlis Research Center has proposed amendments to rules to help ease the sale of excess assets of state-owned banks.

In a report seen on the MRC website, the influential body suggested that the government take responsibility of selling the assets. As per current laws, state banks are obliged to sell their excess assets, based on the decision of the head of their general assembly -- the economy minister.

The report noted that the rules are pretty vague and open to wide interpretations, as it is not clear that the banks’ GE should decide about which assets are not needed or should only allow selling the assets.

Law also requires lenders to use the money raised from asset sales for financing infrastructure projects or give it to profit-making enterprises.