Iranian banks have to sell their assets to pay off debts to CBI
Tehran, Iran, Dec.6
Currently some of Iranian banks have experienced heavy losses and some are on the verge of it, this issue is related to their reserves, the value of their assets and the their debts to government, the former CEO of Bank Saderat, Bahaeddin Hosseini Hashemi told Trend.
He was speaking about the Iranian banks` debts to Central Bank of Iran (CBI) and government`s debts to banks.
"In the current situation, except for the demands that the banks have from the government, they also ask for their regular customers, whose payment has been postponed, to pay off their debts to banks,” he said.
"The currency fluctuations have had a very significant impact on the financial situation of the banks, so in the current situation, they should try to solve the problem by selling banks' assets and reducing branches,” he added.
“Banks need modern technologies and innovations. The core branch cannot compensate losses, and banks must also adapt themselves to recent conditions,” the former CEO of Bank Saderat said.
According to Iran's budget law of the current year, the public debts to legal and natural individuals and businesses should be cleared through bartering their debts with the debts of these individuals to the banks and financial institutions.