Business Regulations : The And The Free Zones

2105 WordsJul 22, 20169 Pages
Business regulations can explain how easy or difficult it is for an entrepreneur to open, run and sustain a small to medium-size business when complying with relevant regulations. There are two different rules for what called the Main Land and the Free Zones. Rules for business in Free Zones are a lot better than the Main Land, but it is limited. The realtor and industrial companies cannot invest a lot in the Free Zones. The accounting standards of Iran banks are conventional banking, but in theory, the banks use provisional interest-based transactions. Overall Iran 's banking system run on an Islamic interest-free basis and it has changed following the Islamic Revolution. Under Islamic Banking Law, interest rates paid to depositors…show more content…
Iran is a member of leading international organizations, and it has ratified 13 International Labor Organization Conventions including the elimination of forced labor, child labor and discrimination. It is also a member of the United Nations Industrial Development Organization, International Co-operative Alliance Asia-Pacific [ICA- AP], The International Co-operative Alliance and several other institutions. There is Code of Ethics for labors, Labor Law and a national minimum wage applies to each sector. Although in theory the laws and regulations are well written, yet there is no union system in the country. The government claims that the workers are represented ostensibly by the Workers ' House, a state-sponsored institution that nonetheless attempts to challenge some state policies, but Iran is known for violating labor rights. Including Human Rights Watch many other human rights watchdogs expressed grave concerns over the labor rights and incarceration of dozens of labor representatives. Defense Industry: The country has arsenals, but it has invested in the defense industry to excel the products. Among many industries the followings are the key institutions in this field, which contributes to Iran 's economy: • Aerospace Industries Organization (A.I.O.): Engaged in the research, design, development and manufacture of missiles and aerospace projects. • Iran
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