Tuesday, May 08, 2012

Tat Bank

I am reading the dispatches on Tat Bank, Iran's eighth private bank. The best I can say is that it is going to merge with two recently founded financial institutions to form a new bank called "Mardom Bank". One report speaks of some "irregularities" without further elaboration. Well the positive side of the story is that there is a banking watchdog in Iran. That is comforting, at least partially.