The Central Bank of Iran warns over bank's funds

Business Materials 7 June 2011 20:05 (UTC +04:00)

Azerbaijan , Baku, June 7 / Trend/

The Central Bank of Iran urged banks to increase funds before deadline, ISNA reported quoting Governor of Central Bank of Iran Mahmoud Bahmani as saying.

"Banks should increase their capital last solar year (ends March 20, 2011) but some of them requested more time," he said.

Banks should increase funds before assembly; otherwise, the CBI reduces bank's ranking position to financial institution.

On the deadline banks should increase fund to minimum funds of $400 million while the financial institutions should raise their funds to $350 million.