Iran: Allow foreign banks to establish branches in Iran
Description
On 18 March 2009, the Council of Ministers with its decree Number 87/67813 has set the rules for regulating the activity of foreign banks .
For years, Article 44 of the Iranian Constitution placed banking activities exclusively in the hands of the government. Only with the privatization law, which came into force in summer 2008, the normal functioning of foreign banks in Iran is allowed.
Any Evidence-Based Deliberation:
| Question | Result |
|---|---|
| Is there anything in the public record to suggest that evidence of the effectiveness of the proposed measure was considered during official deliberations? | |
| Is there any evidence that alternatives to the proposed measure were considered? | |
| Is there anything in the public record that suggests that empirical evidence informed the comparison across the alternatives available to government? | |
| Was such evidence identified? | |
| Is such evidence publicly available? | |
| Did the official decision-maker in question provide an explanation as to why a chosen measure was favoured over alternatives? | |
| Is there any evidence to suggest that potentially affected trading partners were consulted before the measures were taken? | |
| Is there any evidence that safeguards have been put in place to ensure that implementation of the initiative is transparent and non-discriminatory? | |
| Did the government state its intention to review the measure within one year of implementation? |
Date Discovered:
Implemented: No
Date of inception:
GTA Evaluation: Green
Source:
1) Decree Number 87/67813 (http://www.nourlaw.com/)
2) Law Office of J. Nouraei & M. Mostafavi, Members of Iranian Central Bar Association, 14 April 2009 (http://www.nourlaw.com/)
Government Response:
- 413 reads
