Baku, Azerbaijan, May 28
By Farhad Daneshvar – Trend:
Iran’s Bank Maskan will receive $1.5 billion in a bid to increase the capital of Iranian public-sector banks, the government announced.
Iranian government has agreed to increase its capital in Bank Maskan by 50 trillion rials ($1.5 billion), IRNA news agency reported.
According to the report, First Vice President Eshaq Jahangiri announced the decision on May 27.
The government’s capital in Bank Maskan now reaches 100 trillion rials (about $3 billion).
The government has earlier increased its capital in several public sector banks including Bank Melli and Bank Sepah.
The move is aimed at extending facilities and credits to subsectors of economy and improving the performance of the banking sector.