Legal Challenges of Government Oversight of the Unorganized Money Market in Iran

The market was originally a physical place where buyers and sellers gathered to exchange goods and services. But the concept of the market in the new era has expanded from a place for the trade of goods, and the discussion of money markets to take deposits from people and pay loans and facilities to them has become one of the requirements of the economic structure.Meanwhile, money markets are divided into organized and unorganized markets based on the amount of superior supervision over them. Organized markets are regularly monitored by upstream institutions such as the central bank, but unorganized monetary markets lack such a regulatory mechanism. This has become one of the problems in macroeconomics and disruptions in the flow of money and liquidity. Gharz al-Hasna funds, leasing companies and exchange offices are among the types of unorganized money markets.An organized market is one that is open and well-known. An unorganized market is a market that is not open and well-known, it is formed between individuals, and certain institutions that are registered according to certain rules and act according to certain rules are not involved in it. Central Bank of the Islamic Republic of Iran Although it is legally responsible for supervising money markets, the lack of clear mechanisms and the lack of up-to-date legal rules and regulations in line with modern changes in the banking system have posed a serious challenge to the legal system of government and central bank supervision of unorganized money markets.