Governor of Central Bank of Iran (CBI) Valiollah Seif said on Monday that the Iranian banking system will experience a breakthrough after the implementation of the Joint Comprehensive Plan of Action (JCPOA) reached on July 14 between Tehran and the six world powers.
Noting that Iran is now on the eve of implementing the JCPOA which is expected to lift sanctions on the country, Seif said that imposition of Western sanctions put heavy pressure on the country’s banking system.
‘Since the banking system has been under pressure for years, it will face main challenges in meeting banking standards,’ Seif said.
Although the Iranian banking system has made progress, this growth has been made in a closed or so-called greenhouse area which has inflicted much costs on the country, he said.
