18% Rise in Bad Checks

Bad checks Increased sharply in the calendar month to May 21 amid slower growth in the number of total check transactions, the Central Bank of Iran said.
There were 670,000 bad checks in the month -- 17.8% higher compared to the month before. However, compared with the corresponding month last year the number was down 32.9%.
In value terms, the bad checks jumped nearing 232 trillion rials ($928 million), indicating a whopping 46.3% hike on monthly basis. Such checks also increased 38.7% in value compared with same month last year.  
Bounced checks accounted for 9% and 11.9% of the total volume and value of drawn checks in the month.