Denial of Iranian government access to personal financial data

Iranian government applied to access to personal financial data. The Parliament did not allow the Government to have access to neither bank deposits, nor other shares invested in the stock market.

In next year budget, the Government had suggested that deposit accounts and capital investments at the stock market should pay taxes. However, the Parliament refused to pass this part of the bill and denied access to personal financial data.

The reasoning behind this rejection was that the deposited money by investors is a fuel for the banks to provide financial loans to industries and businesses. Imposing levies on these accounts would encourage investors to take their deposits out of the banks, leaving them with less resources.

Beside this, the opponents are also worried that if the deposited money leaves the banks, it can flow to other markets, such as FOREX or gold market and lead to further increase in prices at those markets.