End of sanctions offers chance to fix Iran’s banking sector
Iranian banks struggling with high levels of non-performing loans may see their situation improve, but deep reforms are needed and the political situation remains complex
The lifting of sanctions against Iran in mid-January looks set to offer respite to the country's troubled banking system, especially after the Central Bank of Iran confirmed all sanctions-hit banks have now reconnected to the Swift network. But economists believe deep reforms are still needed.
The banking sector has long been suffering from slender capital buffers and a heavy weight of non-performing loans (NPLs). The situation was exacerbated by sanctions, with the exclusion of major banks from
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