Banks Facing Problems Due Sanction Pressures
Banks Facing Problems Due Sanction Pressures
TEHRAN – Governor of Iran’s Central Bank acknowledged that banks have serious problems, adding that those problems are because of pressures from sanctions, volume of the liquidity and banking defaults.

Speaking in the public session of Majlis yesterday, Abdolnasser Hemmati said that banks have done great jobs in the country and they carry out most decisions which are assigned by the government and Majlis.


He added that one can say banks are the axis of development in the country, adding that when they talk about problems of the banks, their significant services should not been forgotten.

Hemmati stated that some Malis lawmakers are working on a bill to solve economic fluctuations and they want to find way for solving problems of those who have failed to repay their debts to the banks due to the economic turmoil.

Hemmati said that most of them are unhappy with the way banks calculate the interest for the loans and fines for delay in repayment.

He said if the bill is approved in the economic commission of Majlis and in Majlis, the central bank will not oppose it and there will be no problem in its implementation.

He admitted that due to pressures from sanctions, huge liquidity and banking defaults, banks are struggling and one cannot deny problems but services of the banks to the national economy should not been also ignored.

Hemmati also set condition for the proposed bill, adding that it should be approved in Majlis and approval in the economic commission of Majlis is not enough by itself.

He went on to say by the approval of the bill, problems of over 29 million people who have received bank loans will be solved.

Hemmati added that since this year has been named “Year of Boost in Production”, the central bank welcomes the bill and it believes it can help production and it can push all financial and banking resources towards production.

  • source : Iran news