Identify the required features of the board of directors in state-owned banks

Selection of members of the Board of Directors should be transparent, perspicuous, and based on an assessment of a variety of skills, competencies, experiences, and structure. Therefore the purpose of this research is to identify the required characteristics of board members in state-owned banks. The nature of this exploratory research with an inductive approach and its philosophy is a developmentally oriented interpretation. Hence for this purpose, the qualitative method of data theory was used. Also statistical population was professors familiar with the field of finance, economics and management. Thus a combination of purposeful judgment and snowball method were also used to select the sample. Research data were collected from semi-structured interviews with twelve university professors. As a result of analyzing research data by open, axial and selective coding method, variables of size, composition and criterion of board selection were extracted as main features required of board members in state-owned banks.