Supervision of Non Banking Credit Institutions Department

Objective:
Assurance of stability, safe and soundness and adjustment of operation of all the non-banking monetary institutes including: gharz-alhasane funds (interest free loan funds), credit cooperative unions, leasings , currency exchanges and other nonbanking institutes which are as intermediators of funds and monetary activities, with laws and regulations and prescriptions, through on-site supervision, regular or instance inspection.
 
Main Duties:
  1. Regular or instance supervision of gharz-alhasane funds (interest free loan funds), credit cooperative unions, leasings , currency exchanges and other non-banking institutions, which are the evidence of intermediators of funds and monetary transactions, in order to assure the adjustment of their operations and activities with approved standards, laws, regulation, directions, circulars and prescriptions.
  2. Rcognition the different types of risks related to referred institutions, rating them according to their importance, accomplishment of necessary supervisions in order to reduce the risks.
  3. Preparation and compilation of manuals, check lists, inspection methods and on-site supervision procedures and regular updating for them.
  4. Receiving the datas, informations, and financial statements from authorized active members of monetary section in the non-organized market, in order to analize the received datas to verify their quality and correctness through on-site supervision.
  5. Supervisig the operation of non-banking monetary institutions in order to assure that all anti money laundaring regulations and prescriptions are applied precisely.
  6. Investigation of any complaints received from real or legal individuals,about the contravention or non compliance of laws, regulations and prescriptions of central bank, by mentioned institutes and refering the cases to related departments if necessary.
  7. Preparing and setting necessary datas and informations concern to the non-banking monetary institutes activities in case of need and reflecting the results to related authorities.
  8. Studying and recommending the minimum amount of capital, reserves and liquidity of mentioned institutes to relevant decision making authorities.
  9. Supervising the operation of the referred institutions about methods of granting facilities and deposit taking.
  10. Holding the meetings with managers and responsible people of mentioned institutes,  about the findings of carried out supervisions in odrer to review the results and and ploblems associated with them, doing proper follow up to correct their operation.
  11. Cooperation with other departments of supervisory section, about improvement the supervisory procedures, holding meetings, sending examiners to branches of the institutes to investigate the referred cases from mentioned departments and other related issues.
  12. Consideration and accomplishment of necessary measures about articles of association of non-banking monetary institutes, including: gharz-alhasane funds (interest free loan funds), credit cooperative unions, leasings , currency exchanges and other non-banking institutes and assurance of having activity license by central bank before registering in the Deeds and Properties Registering Organization of the Country"."
  13. Presenting necessary reports to related oficials and higher authorities in the central bank with the aim of correcting the operation of authrized active members in monetary section.
  14. Implementing of other cases in extent of functions and resposibilities
Main Relations:
 
  1. The department of non-banking monetary institutions supervision in view of organizational structure is under control of director general Supervision of Banks and Credit Institutions and submit their reports to that authority.
  2. In order to accomplish the functions and resposibilities is related to: gharz-alhasane funds (interest free loan funds), credit cooperative unions, leasings , currency exchanges and other related authorities and organizations.
  3. In order to accomplish the functions and resposibilities is related to: departments and units in central bank.  other
  4. For accomplishing its duties, this deparment has communication with supervisory authorities of the other counries if essential.
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