Baku, Azerbaijan, April 1
By Umid Niayesh - Trend:
About $1.18 billion (based on official rate of 25,444 rials per each USD) of bad loans to the Iran's bank system were collected, senior official said.
Head of the State Organization for Registration of Deeds and Properties, Ahmad Toyserkani said that his organization was involved in collecting of the mentioned figure during the last Iranian calendar year (ended on March 20) without unveiling any further details, the country's IRIB news agency reported on April 1.
The governor of the Central Bank of Iran, Valiollah Seif, confirmed that the national banking system's bad loans have reached some $32 billion. Many factors are involved in the bad loans, such as the international sanctions and mismanagements in the banking system, Seif said.
Iranian media outlets reported in January that some 28.5 percent of bad loans in Iran are related to just 173 persons. The Central Bank has set up a special working group to follow up and collect the debts, according to the Seif.