Banks Tighten Lending Standards

The Central Bank of Iran has linked big loans to  submitting all financial documents, a move that further tightens lending restrictions. 
In a directive sent to banks and credit institutions, the CBI has conditioned loans above 50 billion rials ($333,330  as per current exchange rates) to the presentation of  audited financial statements.
The measure is part of concerted efforts of the government to reform the dysfunctional banking sector. The move further tightens rules that govern lending, especially to big borrowers many of whom do not have a stellar record.