Banking Supervision Department

Aims

To ensure the safety and soundness of banks and credit institutions through periodic and ad hoc inspections.

Main Functions

• On-site inspections on a periodic as well as ad hoc basis of banks and credit institutions in order to recognize the various risks with which they are faced.
• On-site inspections of banks, credit institutions and the representative offices of foreign banks in Iran that have obtained a license from the Central Bank of the Islamic Republic of Iran, in order to establish that their activities or operations are in compliance with the country's laws, regulations and directives laid down by the Central Bank of the Islamic Republic of Iran.
• Determining the degree of importance and impact of various risks on the operations of banks and credit institutions.
• Carrying out the necessary actions for obtaining the needed data and information from the banks and credit institutions and their examination in order to gain assurance about their quality and accuracy, by sending out inspection teams.
• Examination and selection of appropriate procedures for the assessment of the various risks in banks and credit institutions.
• Looking into and commenting about the fitness and propriety of the staff nominated by the banks for taking up post of a managerial nature (assistant manager and above) in the banks' overseas branches.
• Investigating the complaints received from natural and legal persons in respect of violations or non-compliance with the laws, regulations and directives of the Central Bank of the Islamic Republic of Iran by banks, credit institutions and the representative offices of foreign banks in Iran.
• To ensure compliance with the rules laid down concerning prevention of financial crimes in banks and credit institutions.
• Examining and commenting about the applications received from banks and credit institutions in relation to establishment and closure of branches, sub-branches and representative offices in Iran or outside Iran in accordance with paragraph (f) of Article 30 of the Monetary and Banking Law of Iran and the relevant by-laws and regulations in order to issue the necessary license.
• Looking into, commenting about and responding to letters received from the Supreme Audit Court, the State Inspection Organization, and the supervision and inspection departments of other national agencies that has been sent by the management of the Bank for further investigation and comment.
• Holding of meetings with the managers or officials of banks, credit institutions and the representative offices of foreign banks in order to communicate the outcomes of inspections carried out and also to discuss ways to remove the banks' difficulties/problems in order to better comply with the laws, resolutions and directives laid down.