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Iranian Parliament sues administration on drawing money from banking system

Business Materials 6 May 2012 14:25 (UTC +04:00)

Azerbaijan, Baku, May 6 / Trend F.Milad /

The Iranian parliament has filed a complaint against the administration for drawing money from the banking system without informing the Parliament, the Mehr News Agency reported.

On March 9, a member of the Iranian parliament (Majlis) said that the administration has drawn out sums of money of the banking system without informing the Majlis, and that the move will be certainly questioned by the Majlis.

The Central Bank of Iran drew 43 trillion rials (some $3.5 billion) of bank accounts as the banking system received foreign currency according to the official rate and sold according to the free market rate.

The banking system's total debt to the central bank has been 87 trillion rials (some $7 billion).

Meanwhile, Central Bank Governor Mahmoud Bahmani said that the central bank had called a number of banks to hand over documents showing the method of spending dollars which had been supplied to them. But, some of the banks refused to deliver the documents. The sums were related to the difference between the official price of dollar and the price in the free market.

He rejected some rumors claiming that the sums have been taken by the central bank to pay cash subsidies.

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