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Banks Told to Return Seized Indebted Firms

Banks Told to Return Seized Indebted Firms
Banks Told to Return Seized Indebted Firms

The Central Bank of Iran issued instructions on Saturday to banks to return seized properties to the original owners.  
The decision was made in a meeting of the Money and Credit Council and relates to manufacturing companies seized by the banks in lieu of unpaid debt, the CBI website reported.
Accordingly, lenders are obliged to give back real estate and other properties of manufacturers to the original owners.

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