A Comparative Study of the Laws and Regulations of Banks and Credit Institutions Supervision Authorities in Bulgaria, Turkey and Iran.

seyed Ahmad Hosseini Golafshani



In different countries of the world, central banks operate monetary policy in order to achieve their economic goals. Supervision sector, which is responsible for the supervision of banks and credit institutions, play a crucial role in running central banks’ monetary policy. Duo to the importance of supervisory authorities and the domino effect created by their mistakes which affect monetary and investment market of every country (the most typical example is the recent global economic crisis), preparing and observing regulations for better monitoring of banks and credit institutions becomes requisite. In this article a comparison has been made among supervisory authorities’ laws and regulations of Iran, Bulgaria and Turkey on the basis of supervisory authorities’ effective operation management that are as follows: 1.Supervisory authorities’ organizational position 2.Necessary and anticipated preconditions before supervisory measures    3. Supervisory authorities’ measures. Findings show that the Banking Regulation and Supervision Agency (BRSA) of Turkey has taken the first place regarding the organizational position of supervision sector and Bulgaria and finally Iran with the weakest organizational position take the second and third places successively. Supervisory measures in the Monetary and Banking Act of Iran are much limited to threatening or stopping the activities of units under supervision while in Turkey stopping or closing some or all activities of units under supervision are considered to be the last supervisory actions. Finally, with respect to the mentioned supervisory indexes, Turkey has acquired a more satisfying condition than Iran and Bulgaria.

Key Words: Central Bank, Supervisory Authorities, Iran, Bulgaria, Turkey.



Fars News Agency.(1388).

-The Central Bank of Islamic Republic of Iran.(2006). Promoting the role of banks supervision (Publication No.2288).

- The Central Bank of Islamic Republic of Iran. Website: cbi.ir

- Bulgarian National Bank. Website: bmb.bg /supervision/index

- Law on Banks in Bulgaria (Issued by the 38th National Assembly on 25 June 1997;

published in the Darjaven Vestnik, issue 52 of 1 July 1997; amended,

issues 15, 21, 52 and 70 of 1998; issues 54, 103 and 114 of 1999;

issues 1, 24, 63, 84 and 92 of 2000; issue 1 of 2001; issues 45, 91 and

of 2002; issue 31 of 2003, issues 19, 31, 39 and 105 of 2005)


- Banking law no-5411, issue September of 2008. The Banks Association of Turkey. Website: www.tbb.org.tr

- The Monetary and Banking act Of Iran 1972 . The Central Bank of Islamic Republic

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ISSN : 2251-1555