TEHRAN- “The Central Bank of Iran (CBI) has neither overlooked nor postponed reformation of banking system during the past recent months,” the central bank’s governor Abdolnasser Hemmati announced underscoring that the bank has always had modification of banking system on its agenda.

“During the past three months [since the appointment of Hemmati as CBI governor], all the required programs to amend banking system have been planned relying on ratifications of the Supreme Council for Economic Coordination and formation of Liquidity and Money Market Committee consisting of economy, monetary and banking experts besides central bank officials,” he announced.

Despite what some critics believe, CBI’s efforts to curb the rampant foreign exchange market during the past months, has not prevented it from focusing on its other responsibilities, he added.

“Tackling the old accumulated problems in banking system is a time-consuming procedure that requires high precision,” he underlined.

HJ/MA