Middle East Economic Survey
VOL. XLVIII
No 47
21-November-2005
IRAN
Iran Rules In Favor Of Foreign Loans
Irans Expediency Council (EC) on 12 November said the country could use foreign loans, thereby overruling an earlier decision by the Guardian Council (GC) to ban such loans because they were against the principles of Islamic law. The Iranian parliament earlier this year passed legislation which allowed international financing, but the GC disagreed with parliament and ruled that loans from...
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