Examining the effects of inefficiency of laws in determining bank fees

The financial services provided by the banks require the receipt of a fee, which the legislator only sets according to regulations, such as paragraph (4) of article (20) of the “Banking Operations without Usury Act” and paragraph (4) of article (14) of the “Monetary and Banking Law of the Country Act”, has considered the determination of its amount as one of the Central Bank's powers. In this regard, the legislative system due to the lack of adequate and incorrect regulations, not only did not solve the possible problems, but also had led to an increase in financial violations and omissions, each of which results in legal, social and economic damages. In fact, “lack of precise explanation of the nature of fees and lack of guarantee of efficient execution” on the one hand and “lack of culturalization and justification of customer financial payments” on the other hand, have caused the rate of bank fees to remain constant for several years, and banks actually to provide many financial services do not charge a proportionate fee. Therefore, the important issue is that what are the challenges caused by the defects and ineffectiveness of the laws in banking fees and what are the solutions to correct them? In the current research, with the descriptive-analytical method, while explaining the mentioned challenges, it has been emphasized that the correct explanation of the nature of bank fees, the establishment of efficient performance guarantees to prevent related violations and omissions, and sufficient information to customers can overcome these challenges raise a lot.