Mostakhdemin Hosseini the CEO of Credit Institution For Development (CID) resigned from his position.
Hosseini joined CID 4 years ago and his main goal was converting this Institution to an accredited bank in Iran. But after 4 years he resigned from his position.
Sources close to CID confirmed this story. Central Bank of Iran (CBI) rejected the formal application of CID for being an accredited bank. This was the main reason of Hosseini resignation.
Currently CID has all the needed specifications to get approved by Central Bank of Iran but authorities refuse to do this.
CID was established on September 4th 1997, as the first credit institute being authorized by CBI.
