EDBI Mulls over Strategies for Developing Role of “Adjustment”
In a joint expert-level meeting with Sydney Philip Company, Export Development Bank of Iran (EDBI) studied the strategies for the development of role of “adjustment” (observing necessary rules, regulations and standards), the Public Relations Dept. of the bank reported.
In this get-together meeting, representatives from Sydney Philip Company embarked on clarifying provisions of available standards in this field, the report added.
Given the above issue, Export Development Bank of Iran (EDBI) intends to expand and develop its current structures using the available opportunities in line with developing the role of “adjustment” at the bank.
Philip Sydney Company is a Dutch company which is tasked with training, consulting and evaluating adaptation in finance and credit association, so that this company is one of active units in this field.
Due to the increase of sensitivities and concerns in national and international levels with regard to misuse of banks for criminal objectives and intentions in the field of money laundering and financing terrorism, violation of international sanctions and also financial crimes especially bribery and embezzlement, the issue of observing rules and regulations at banks has become important in recent years.
Accordingly, Money and Credit Council (MCC) has recently approved an instruction entitled “instruction of observing rules and regulations in finance and credit association”, so that Central Bank of Iran has notified it to all banks and credit association, the report concluded.