Industry Overview: Bank Industry plays an important role in Iran’s Economy because interest on banks` deposit is one of the benchmark for risk free rate. Before lifting the sanctions, isolation disturbed Iranian bank`s operation because money transferring was abandon according to the sanctions. In addition, lack of appropriate setup for loan and assessing risk bring them enormous volume of bad loans. After lifting the sanctions, Iranian banks have modified their operation and they are trying to prepare mechanism for entering to international market.
There are 15 listed banks in Tehran Stock Exchange and Farabourse which are operating under supervision of Iran’s Central Bank and Money and Credit Council. One of their best approaches before entering international markets is announcing their financial reports according to the IFRS.