New Rules Tighten Oversight of Banks’ Lending Procedures

The Central Bank of Iran Tuesday unveiled the ‘Centralized Database for Loans and Commitments’ known by its Persian acronym Samat, planned to enhance the CBI’s oversight of loans by banks.
Abdolnasser Hemmati, the CBI head, said he was hopeful that the platform would improve banks’ (often controversial) lending process, which is said to be the root cause of financial corruption.
"The platform will assist the central bank make more efficient policies as it would provide important data," Hemmati was quoted as saying by the bank’s website.
Banks from now on must get a special code from Samat before paying loans. "This would give the CBI access to information on guarantors, collateral and the credibility of those wanting to take out loans.”