Iran banking system has $39 billion unpaid loans

Business Materials 18 July 2011 15:37 (UTC +04:00)

Azerbaijan, Baku, July 18 /Trend/

Iran banking system has $39 billion (427,000 billion rials) unpaid loans, the governor of Central Bank of Iran Mahmoud Bahmani announced Monday , Mehr News Agency reported.

"Some claimed that the unpaid loans increased to $73 billion. It means the bankruptcy of Iran's banking system which is not true," he said.

Previously, the head of Parliament Economy Commission Hadi Moghaddasi said Iran's banking system has $73 billion unpaid loans.

Ahmadinejad has implemented several projects to eliminate unemployment problem in the country and made the banks to allocate loans to entrepreneurs.

The Iranian "Bank and Loan" news agency reported at present more than seven million people cannot repay the loans issued by banks.