Iranian bank debts rising at an alarming rate

  • news digest

Oct 23, 2018-

Debts of Iranian banks to the Central Bank of Iran (CBI) have been rising at an alarming rate in recent years, Eghtesadonline news website reported on Saturday. The issue has become a major challenge for the Iranian banking system as the unpaid debts posed a major cause behind the bulging liquidity and the galloping inflation. The debts by the calendar month ending on August 22 totaled $10.48 billion, registering an increase of 34.8 percent compared with last year’s corresponding month. Statistics also suggested that the main reason behind the increase in debt lies in overdrafts by private-owned banks, non-government banks, and credit institutions. CBI governor Abdolnaser Hemmati issued a directive to banks obliging them to settle overdrafts with the CBI. (XINHUA)


Published: 23-10-2018 10:42

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