IBENA quoted Badri as raising the call in an address to a round table meeting on Promotion of Bank Monitoring System and the International Financial Reporting Standards (IFRS) on the sidelines of the 27th Annual Conference on Monetary and Foreign Exchange Policies.
"The monitoring system project started in 2014 and is now in stage of fixation," said Badri, referring to successful reforms in financial bills of banks per IFRS and said it was just a miniature move taken up for reforms in the banking system.
He said banking reforms plan was consistent with a group of 29 principles on banks and banking indigenization. "A model of financial bills for banks was designed per the IFRS scheme — the so-called IFRS convergent model."
After lengthy expert-level debates, the Central Bank of Iran (CBI) came to the conclusion that it was highly essential to administer the IFRS in two rather than one phase in conformity with ongoing needs, according to the expert.
Throwing his overwhelming support for full implementation of the IFRS in Iranian banking system with regards to the need for international banking exchanges, the CBI Governor dvisor said there is strong consensus among top echelon banking officialdom in Iran on the IFRS adoption.
Elsewhere in his remarks, Badri referred to crucial importance of the financial reporting and said it is the main prerequisite for any banking over
