Iran’s Seif details banking sector clean-up operation
Iranian central bank is working to improve the transmission of its monetary policy
The Central Bank of the Islamic Republic of Iran is working across a range of fronts to improve the functioning of the country's banking system, governor Valiollah Seif said in a speech on May 25.
Bruised by sanctions and the low price of oil, Iran's banking sector has struggled alongside the rest of the economy, and is now burdened with high levels of non-performing loans (NPLs), Seif said.
The governor said this is a major factor hampering the passage of monetary policy, as well as creating
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