Bad Checks Rise 15%

The number of bad checks have increased in the calendar month to June 21 three months after enforcement of stringent new rules to help improve credibility of check transactions.
Data released by the Central Bank of Iran shows that bounced checks jumped 15.3% in number to stand at 773,000.
In value of terms, the bounced checks were worth 280 trillion rials ($1.12 billion) -- up 20.7% on a monthly basis.
Checks with insufficient funds accounted for 9.7% of the total number of checks and 12.6% of the value of checks drawn during the mentioned period.