Supervision of the Central Bank on the implementation of monetary and banking laws and regulations in free trade-industrial zones and its political effects

Document Type : Original Article

Authors

1 PhD Student in Public Law, Yazd Branch, Islamic Azad University, Yazd, Iran

2 Assistant Professor of Law, University of Judicial Sciences and Administrative Services, Tehran, Iran.

3 PhD in Public Law, Department of Law, Yazd Branch, Islamic Azad University, Yazd, Iran

Abstract

In order to develop free trade and industrial zones, there is always regulation and continuous supervision through legal means provided to the Central Yankee; It is possible to establish established banks in these areas in the path of the target areas and development axis. However, challenges such as political, economic and even bureaucratic challenges, which are a translation of the discourse of different governments on the Iranian governing body, overwhelm this process and inflate the regulatory outcome of this set, but block the implementation. . However, in the case of the Central Bank, it should be said that the legislative and monitoring process in its proper implementation, which is aimed at developing free trade zones, deviates from its original goals, one of the reasons for which is the politicized management cycle. It is different from the banking regulations of the liberated areas. For example, according to the law, the monetary resources of free zones must be spent in free zones. These resources are transferred to the mainland in the form of Rials incl. Although the Central Bank makes regulations for the growth and development of free zones, the challenge is that the oversight function in this area is not fully and comprehensively performed by the supervisory bodies of the Central Bank.

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