Iran's Minister of Economic Affairs and Finance Tahmasb Mazaheri declared on Saturday that 40 percent of the strategic banking reform consisting of 26 basic and 100 operational projects, which have been underway for one and a half years, is now completed, IRNA reported from Tehran.

He told IRNA that improvement of the operating system of national banking network and optimization of the presented services is one of the continuous programs of the banking system.

Mazaheri referred to implementation of phone banks, common checks, inter-bank cash transfer, payment of water, electricity, telephone and gas bills through internet and project on making Iran check acceptable to all banks as some of the continuous services to be presented to clients.

"Optimized banking system and presenting better service to clients are part of the constantly pursued banking strategic reform projects, which prompt banks to compete against one another in attempt to satisfy their clients," he added.

The official added that ways of running state banks is one of the reform projects, whose draft is currently being examined by Majlis commissions.

He hoped that Majlis will soon ratify the draft on banking reform to enable banks to be more flexible in banking management and enjoy more strict discipline in their decision-making process.

... Payvand News - 8/30/03 ... --