FEATURE-Bankruptcies could be key to Iran economic shake-up

Newswire

By Edmund Blair TEHRAN, Sept 18 (Reuters) - Parviz Aghili, managing director of one Iran's handful of new private banks, has a simple prescription to lick the country's economy into shape: allow more bankruptcies. "I am one of those people who believe in shake-ups...We have to go through the process of bankruptcy...We have to allow for competition," he said from the head office of Karafarin Bank, which received its banking licence in 2001. Private banks, like Aghili's, account for no ...

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