Monetary policy and legal analysis of the role of the legislative and excutive branches in it

Ghorbani Zirdehi, Parisa; Masoudi, Alireza; Bagheri, Mahmood; Ghorbanian, Hossein

doi:10.48300/jlr.2023.405218.2382

Monetary policy and legal analysis of the role of the legislative and excutive branches in it

Articles in Press

Document Type : Original Article

Authors

parisa ghorbani zirdehi ¹

alireza masoudi ²

Mahmood Bagheri ³

Hossein Ghorbanian ⁴

¹ university of terhran north

² Assistant Professor ,Department of private Law, Faculty of Law, Islamic Azad Tehran university north branch, Tehran, Iran

³ Associate Professor Department of private Law, Faculty of Law and Political Science, University of Tehran, Tehran, Iran

⁴ , Assistant Professor, Department of private Law, Faculty of Law. ,Islamic Azad university shahrood branch ,shahrood

10.48300/jlr.2023.405218.2382

Abstract

Although the monetary and Banking law of Iran explicitly states that the Central bank is the only policy-maker in the monetary field and the Money and Credit Council (MCC) is considered as its essential body, in the mean time, monetary policy is also discussed in various articles of the aforesaid law, as if the Central bank is the only institution in policy- making while it is independent from other institutions in policy-making, but in practice we can obviously see that the legislative and executive powers are widely involved in this policy-making process. In this article we address some of the dichotomies and conflicts in action and legislation of the legislative and executive powers while we describe the position of each of the policy- making institutions which will demonstrate how the intervention or oversight of other institutions in the monetary policy narrows the field for the specialized policy-making body who must act independently and may enforce terrible effects on Economy.

Keywords

Monetary and Banking Law

Monetary Policy

Policy Making Institutions

Central Bank Independence

money