Skip to main content

Action needed to reform Iranian banks

Poor economic conditions have led to a crisis of non-performing loans for Iranian banks.
EDITORS' NOTE: Reuters and other foreign media are subject to Iranian restrictions on leaving the office to report, film or take pictures in Tehran.

An Iranian woman stands in a currency exchange shop in northern Tehran January 3, 2012. The Iranian rial fell to a record low against the dollar on Tuesday following U.S. President Barack Obama signing a bill on  imposing fresh sanctions against the country's central bank.    REUTERS/Morteza Nikoubazl (IRAN - Tags: BUSINESS POLITICS) - RTR2VU75

On Jan. 4-5, Tehran hosted the most significant economic conference held in Iran since 1979, with President Hassan Rouhani, his economic team and 1,500 economists focusing on the economic hardships that have surfaced in recent years.

The need for restructuring the banking system was among major issues discussed in the two-day event, while top monetary officials on the second day of the conference called on the commercial banks to be selective when offering loans.

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.

Subscribe

Only $100 per year.