Bounced Checks on the Rise

Bounced checks registered a monthly increase of 6.4% up until the sixth calendar month to September 22, the Central Bank of Iran reported.  
Lenders processed more than 688,000 checks worth 108 trillion rials ($960 million) in the month, which indicates a decline of 0.3% in value compared to a month earlier when 647,000 checks worth 108.396 trillion rials ($963.52 million) were returned.
The figures exclude circulated within branches of a single bank and covers only interbank checks processed by Chekavak, a CBI-affiliated electronic check processing system.