Bankruptcy Regulations of Banks and Credit Financial Institutions in the Light of the Jurisprudential Principles of the Iranian Legal System

The growing importance of the role of banks and credit financial institutions in various aspects of economic life and the need for legal supervision and protection over them, has caused legislators to pay more attention to the rights governing their activities. Bankruptcy is one of the most important issues for banks and financial and credit institutions, which is discussed in this article.

This is a descriptive-analytical article using the library method to investigate the question.

Ethical considerations:

 In this article, the originality of the texts, honesty and trustworthiness have been observed.

In jurisprudence, bankruptcy is referred to as bankruptcy and usury, which is reflected in the discussion of bankruptcy in Iranian law. In commercial law, the bankruptcy of banks is seen as the bankruptcy of other merchants or corporations, which does not explain the bankruptcy of banks and credit institutions. Differences in the concept of bankruptcy and the goals, performance and nature of banks with commercial companies are important issues that have been overlooked. Violations of the Commercial Code in the Draft Banking Law have been largely eliminated. The bill takes a more coherent and precise approach to the bankruptcy of banks and credit financial institutions.

The draft banking law does not pay attention to international laws and therefore is not in line with the needs of international trade today.