Iranian banking system’s bad loans amount to $39.2 bln
Baku, Azerbaijan, May 25
By Fatih Karimov - Trend:
The Iranian banking system's bad loans have amounted to $39.2 billion.
Gholam-Hossein Shafei, Chairman of the Iranian Chamber of Industry and Mine, said it should be clearly announced that what percentage of the figure is related to bank interests and what percentage is related to fines, Iran's Mehr news agency reported on May 25.
USD official exchange rate in Iran is currently about 25,550 rials.
On May 11, a source told Iran's Fars news agency on the condition of anonymity that some 900 persons owe around about $4 million each to the banking system.
"Eighteen persons owe about $195 million each to the banking system."
"Two hundred eighty three persons owe about $20 million each to the banking system."
"One hundred forty five persons owe around $40 million each to the banking system."
"And three persons owe around $400 million each to the banking system. Two of them are in jail for further investigations."
The Iranian administration has sent the names of 575 main debtors to the national banking system to the Judiciary to be dealt with.
On May 5, Iranian vice president Es'haq Jahangiri said the banking system is in a critical situation, he said, adding that high unemployment and inflation are the main concerns.
On April 20, Jahangiri criticized policies of the former administration in offering loans to small businesses.
The hasty decision of the former administration in paying loans to small businesses has led to 800 trillion rials (about $30 billion) bad loans, Iran's Mehr news agency reported.
The government will move toward downsizing, transferring state shares to the private sector and paving the way for large investments in order to create more jobs, he said.