TEHRAN Head of Central Bank of Iran (CBI) Mohsen Nourbakhsh said here that one of the most serious problems facing the banking system is their financial structure.
He also said there are plans to make banks profitable through selling of bonds and exempting them from paying taxes.
The governor of CBI also remarked that the presence of private banks in Third Five-Year Development Plan (March 2000-March 2005) is beneficial to the economy.
Nourbakhsh said that starting next month private banks will be allowed to operate in the free trade zones (FTZs).
"Preliminary private banking operating procedures have also been drawn up and are slated to be finalized in the near future", he said.
(IRNA)