Abstract
Purpose: This paper aims to define a set of banking operating regulations for financial transparency, corporate governance, and bank information disclosure.
 Design: Bank governance, financial transparency, and information disclosure are amongst the most important solutions to attract public trust to financial and banking operations. In order to reach this goal, a new set of regulations should be designed to solve the problem. In this way, Rastin Banking regulations can provide a base to obtain a better information circulation and higher clarity.
 Findings: A draft of regulations for financial transparency, governance, and bank information disclosure is presented in this paper, which can be employed as a basis for the codification of the respective law.
 Research limitations: Since such kinds of regulations are novel for banks, they are required to be meticulously scrutinized in the first place, and after adaptation, adjustment, and performing the necessary modifications, the code of law can be codified.
 Practical implications: Bank managers, through granting various concessions to themselves and their own stakeholders, have violated the rights of shareholders, depositors, and other stakeholders. This issue, through applying the governance methods, is adjustable to a great extent.
 Social implications: This procedure is a model that can be adopted in other countries, especially those countries that have essential ambiguities in their banking and financial operations.
 Value: Clearly, the lack of transparency in banking operations can gradually weaken the trust of depositors, stakeholders, and shareholders, and result in probable abuses and damages to all parties in the bank’s contracts. This article fulfills an identified need and solves the practical problem in financial abuses, corruption, and collusion, and can provide positive and essential effects on creating public trust in financial operations.
Highlights
Reducing public trust to financial institutions has a very negative impact on social and economic trends
As Sir Adrian Cadbury defined the fundamental principles of corporate governance in 1992, corporate governance or in other words, governance is a set of criteria that strengthen the atmosphere of transparency, honesty, fairness, accountability and responsibility in organizational management
They are natural or legal persons, who have mutual financial relationships with each other. They are members of the unit consortium that more than 50% of their annual gross income is supplied from their activities in the consortium. They are individuals that more than 50% of their annual gross income is supplied from another person
Summary
Reducing public trust to financial institutions has a very negative impact on social and economic trends. Article 4: Bank is obliged to prepare, present, or disclose its financial information by considering the accounting standards of the National Audit Organization in a way that the contents are observable.
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