Private Banks Have Marginal Role in Seizure of Defaulting Companies

Private banks have a minimal role in confiscating real estate of business owners who defaulted on their loans. 
“At present only 11 small and medium-sized manufacturing units are under the ownership of private banks,” Mohammad Reza Jamshidi, secretary general of the Iranian Private Banks' Association told IBENA, the news agency of the Monetary and Banking Research Institute.  
“Four of the companies are open and managed by the original owners. Five were half-finished when seized by banks,” the senior banker said, emphasizing that confiscation  by banks do not necessary lead to their closure.