No Banking Fees for Gov’t Accounts

EghtesadOnline: Any attempt by Iranian banking system to receive fees for providing services to government-owned accounts lacks any legality, according to a letter forwarded by the Department of Financial Supervision and Treasury Affairs at the Ministry of Economic and Finance Affairs.

News ID: ۷۸۰۵۵۵

25 November 2017

“In implementing the regulations notified to agent banks by the Central Bank of Iran as per the monetary and banking laws of the country, fees for any banking services rendered by lenders must be strictly authorized by the central bank,” reads the missive reported by Mehr News Agency. According to Financial Tribune, the rates of fees are to be determined by the central bank and would have to be approved by the decision-making body, the Money and Credit Council.