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30 percent of national bank bad loans belong to 570 Iranians

Business Materials 15 September 2014 12:07 (UTC +04:00)

Baku, Azerbaijan, Sept.15

By Fatih Karimov - Trend: Thirty percent of bad loans in the national banking system belong to 570 Iranians. .

Abdonnaser Hemmati, chairman of the coordination council of Iranian state-run banks, said a list of 570 major defaulters has been submitted to the judiciary system, Iran's Mehr news agency reported on Sept. 15.

He put the value of the bad loans at $27 billion.

This year, $87 billion will be paid in loans and other financial facilities, he said.

Iran's economy minister Ali Tayyebnia said on Aug. 19 that a special legal complex will be set up to deal with bank loan defaulters.

The administration owes more than $21.5 billion to the national banking system, Iran's Fars news agency reported.

USD exchange rate in Iran is currently about 32,000 rials.

On May 11, a source on the condition of anonymity told Iran's Fars news agency that some 900 persons owe around about $4 million each to the banking system.

"Eighteen persons owe about $195 million each to the banking system."

"Two hundred eighty three persons owe about $20 million each to the banking system."

"One hundred forty five persons owe around $40 million each to the banking system."

"And three persons owe around $400 million each to the banking system. Two of them are in jail for further investigations."

Edited by CN

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