Shahid Beheshti University Economic and Commercial Law Researches 2980-9967 Articles in Press 2026 07 13 A Critical Review of Central Bank Regulation over Banking Service Providers: Case Study of Iran Informatics Services Corporation, Shaparak, and the Iran Currency and Gold Exchange Center A Critical Review of Central Bank Regulation over Banking Service Providers: Case Study of Iran Informatics Services Corporation, Shaparak, and the Iran Currency and Gold Exchange Center 107241 10.48308/eclr.2026.240680.1187 FA Seyyed Mojtaba Vaezi law and political science faculty, shiraz university Mohammadtaher Safarzadeh Arabi shiraz universuty 0009-0004-6639-3764 Journal Article 2025 07 14 Recent developments in monetary and banking legislation have highlighted the Central Bank’s responsibility to preserve the stability, soundness, and transparency of the country’s banking network. Nevertheless, the Central Bank’s regulatory approach toward key banking service providers—including Iran Informatics Services Corporation, Shaparak, and the Iran Currency and Gold Exchange Center—faces significant challenges. Adopting a critical perspective and utilizing a descriptive-analytical methodology alongside legal text analysis, this article evaluates the Central Bank’s performance in relation to these companies and seeks to answer the primary question: “What challenges does the Central Bank face in regulating banking service providers?” Throughout the study, various issues are examined, such as the lack of privatization of the Iran Informatics Services Corporation, insufficient oversight over Shaparak’s extra-legal authorities, and the overlap and interference of responsibilities with other supervisory entities, including the Securities and Exchange Organization, in structuring the Iran Currency and Gold Exchange Center. The findings indicate that existing regulatory gaps and conflicts have led to substantial problems in the sound regulation of such companies, and in certain cases, the Central Bank's actions even conflict with prevailing regulations. This critical review aims to offer a clear depiction of the main obstacles and challenges in regulation within this field, illustrating the urgent need for a fundamental reassessment of the Central Bank’s supervisory approaches. Recent developments in monetary and banking legislation have highlighted the Central Bank’s responsibility to preserve the stability, soundness, and transparency of the country’s banking network. Nevertheless, the Central Bank’s regulatory approach toward key banking service providers—including Iran Informatics Services Corporation, Shaparak, and the Iran Currency and Gold Exchange Center—faces significant challenges. Adopting a critical perspective and utilizing a descriptive-analytical methodology alongside legal text analysis, this article evaluates the Central Bank’s performance in relation to these companies and seeks to answer the primary question: “What challenges does the Central Bank face in regulating banking service providers?” Throughout the study, various issues are examined, such as the lack of privatization of the Iran Informatics Services Corporation, insufficient oversight over Shaparak’s extra-legal authorities, and the overlap and interference of responsibilities with other supervisory entities, including the Securities and Exchange Organization, in structuring the Iran Currency and Gold Exchange Center. The findings indicate that existing regulatory gaps and conflicts have led to substantial problems in the sound regulation of such companies, and in certain cases, the Central Bank's actions even conflict with prevailing regulations. This critical review aims to offer a clear depiction of the main obstacles and challenges in regulation within this field, illustrating the urgent need for a fundamental reassessment of the Central Bank’s supervisory approaches.