State Banks Can Recapitalize

The Majlis Joint Commission has made an amendment to the 2021-22 fiscal budget bill based on which state banks can increase capital by up to 100 trillion rials ($400 million) by selling nonfinancial assets. 
According to the commission spokesperson, Rahim Zare'e, the decision is in line with efforts to help banks improve their financial structure, the parliamentary news website ICANA reported.  
Guidelines are as per provisions of the law to Remove Barriers to Competitive Production and Improve the Financial System of the Country. 
Government-controlled lenders include three commercial banks and five specialized lenders. Bank Melli Iran, Bank Sepah and Post Bank of Iran are the three commercial banks.