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Worth $35B banking facilities in an arrear in Iran

Business Materials 26 April 2015 17:16 (UTC +04:00)

Tehran, Iran, April 26

By Mehdi Sepahvand - Trend:

There is over 1,000 trillion rials (over $35 billion) outstanding debts without any collateral in the country, said Nasser Seraj, head of Iran's General Inspection Office, an affiliate of the Judiciary of the Islamic Republic.

The Judiciary is prepared to deal with the ones who are responsible for that, he said, IRNA news agency reported April 26.

He further stated that the Central Bank of Iran has launched committees to address the outstanding payments, asserting that the entire sum must be retaken.

The central bank of Iran in late 2013 disallowed those who owe over 2 trillion rials (about $80,000 based on the dollar/rial ration at that time) to the national banking system to exit the country.

Seraj went on to appreciate public reports on financial crimes as very much close to the reality. "Last year we had about 60 thousand reports from people which were of great impact in addressing national affairs."

He further said that in line with recent guidelines by Supreme Leader Ayatollayh Ali Khamenei, the Judiciary, parliament, and government have started a new wave of efforts to tackle corruption.

The Iranian Ministry of Economy also has launched programs to tackle tax evasion as another rampant case of corruption.



Mehdi Sepahvand is Trend Agency's journalist in Iran, follow him on Twitter: @mehdisepahvand

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