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Banks Set to Adopt XBRL for Financial Reporting
The Central Bank of Iran is to announce XBRL (eXtensible Business Reporting Language) standards for financial reporting by banks.
According to the CBI governor Ali Salehabadi, this standard will be tested in one of the banks in February and later other banks will be required to submit their financial reports accordingly, IBENA quoted him as saying.
XBRL is a language for the electronic communication of business and financial data which is revolutionizing the business reporting around the world.
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