Debts of Iranian banks to the Central Bank of Iran (CBI) have been rising at an alarming rate in recent years, Eghtesadonline news website reported on Saturday.
The issue has become a major challenge for the Iranian banking system as the unpaid debts posed a major cause behind the bulging liquidity and the galloping inflation.
The debts by the calendar month ending on Aug. 22 totaled 10.48 billion U.S. dollars, registering an increase of 34.8 percent compared with last year's corresponding month, CBI data showed.
Statistics also suggested that the main reason behind the increase in debt lies in overdrafts by private-owned banks, non-government banks, and credit institutions.
CBI governor Abdolnaser Hemmati recently issued a directive to banks obliging them to settle existing overdrafts with the CBI.
Accordingly, CBI banned access to loans and resources by the banks and credit institutions that have overdrafts with the CBI.
In his directive, Hemmati emphasized that controlling the monetary base, by reducing the debts of banks and credit institutions, is high on the CBI agenda.
The issue has become a major challenge for the Iranian banking system as the unpaid debts posed a major cause behind the bulging liquidity and the galloping inflation.
The debts by the calendar month ending on Aug. 22 totaled 10.48 billion U.S. dollars, registering an increase of 34.8 percent compared with last year's corresponding month, CBI data showed.
Statistics also suggested that the main reason behind the increase in debt lies in overdrafts by private-owned banks, non-government banks, and credit institutions.
CBI governor Abdolnaser Hemmati recently issued a directive to banks obliging them to settle existing overdrafts with the CBI.
Accordingly, CBI banned access to loans and resources by the banks and credit institutions that have overdrafts with the CBI.
In his directive, Hemmati emphasized that controlling the monetary base, by reducing the debts of banks and credit institutions, is high on the CBI agenda.
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