THE CORPORATE GOVERNANCE IN BANKING SECTOR OF IRAN CHALLENGES, EXPECTATIONS

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SAIF VALIALLAH

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Journal: TREND (TREND OF ECONOMIC RESEARCH) Year:2015 | Volume:21 | Issue:68 Page(s): 15-53

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Title

THE CORPORATE GOVERNANCE IN BANKING SECTOR OF IRAN CHALLENGES, EXPECTATIONS

Author(s)

SAIF VALIALLAH | Issue Writer Certificate

Keywords

CORPORATE GOVERNANCEQ1

BANKING SYSTEMQ2

TRANSPARENCYQ1

ACCOUNTABILITY AND DIVULGING THE INFORMATIONQ2

Abstract

Banks as intermediators of funds, can always play a unique role in the economy of any country, but “protecting the interests of depositors”, “preserving the trust and confidence of public to BANKING SYSTEM” from one hand and increasing complexities in the banks operations and their sensitivity to liquidity crises all and all, have created the stringent circumstances for striking the balance therein, for the interest of all beneficiaries of banks. In this context, one of the most appropriate strategies for restoring this equilibrium, is the promotion of CORPORATE GOVERNANCE in banks. In recent years, significant achievements have been aquired through establishment of CORPORATE GOVERNANCE system, viz-a-viz, legislation, execution of supervisory measures, voluntary implementation of this system by different corporations in the developed and developing countries etc, in toto. On the other hand, depositors and beneficiaries of other banks, have attained more information about the necessity and importance of CORPORATE GOVERNANCE system and are inclined and expected to follow the establishment of this system in their respective firms. Meanwhile, placement of a comprehensive and effective system of CORPORATE GOVERNANCE bears positive impacts on expansion and efficient performance of financial markets and optimal allocation of resources in the economy and the empirical evidences, show the close links between the appropriate CORPORATE GOVERNANCE system, superlative functioning of firms and economic growth Sui generis. On this ground, the supervision authorities and legislators of discrete countries have tried their best to foster a strengthened environment in consonance with principles of CORPORATE GOVERNANCE in banks and financial institutions of their residing countries in which among them, we may refer to formulation of required guidelines for internal controls, specification of main tasks and responsibilities of Board of Directors and demarcation of executive and supervisory responsibilities, establishment of numerous committees concerned with the issue, divulging and TRANSPARENCY of financial information, protection of shareholders rights, promotion of information technology security, and propounding certain mechanism for management of heterogeneous risks.However, the CORPORATE GOVERNANCE system in Iran is relatively a new subject, which in recent years has received its due importance and as a result, the necessary measures have been taken for implementation of its diverse dimensions in money and capital market in a disintegrated manner. Thus, the main aim of this paper is to diagnose the existing challenges and present a depiction of unexcelled and effective assessment of CORPORATE GOVERNANCE in BANKING SYSTEM of Iran. The main query of this research prima facie, is focused on characteristics of consumate CORPORATE GOVERNANCE system in Iran and to accomplish the amendatory measures for its implementation sine qua non. The research methodology utilised in this paper is an analytic and descriptive mode and in this case, an attempt is made to construe de facto, the manifold features of CORPORATE GOVERNANCE and its implied international standards and practices, till to render the reformatory measures for BANKING SYSTEM of Iran, quid pro qua.

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APA: Copy

SAIF, VALIALLAH. (2015). THE CORPORATE GOVERNANCE IN BANKING SECTOR OF IRAN CHALLENGES, EXPECTATIONS. TREND (TREND OF ECONOMIC RESEARCH), 21(68), 15-53. SID. https://sid.ir/paper/202237/en

Vancouver: Copy

SAIF VALIALLAH. THE CORPORATE GOVERNANCE IN BANKING SECTOR OF IRAN CHALLENGES, EXPECTATIONS. TREND (TREND OF ECONOMIC RESEARCH)[Internet]. 2015;21(68):15-53. Available from: https://sid.ir/paper/202237/en

IEEE: Copy

VALIALLAH SAIF, “THE CORPORATE GOVERNANCE IN BANKING SECTOR OF IRAN CHALLENGES, EXPECTATIONS,” TREND (TREND OF ECONOMIC RESEARCH), vol. 21, no. 68, pp. 15–53, 2015, [Online]. Available: https://sid.ir/paper/202237/en

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