CBI Increases Reserve Ratio for 9 Weak Banks

The Central Bank of Iran has increased the reserve requirement of nine banks with weak finances, head of the CBI Department for Health Assessment said. 
“Six banks saw their legal reserve raised last month,” Aliakbar Miremadi was quoted as saying by IBENA. He did not name the lenders nor provide details on their poor performance. 
“Higher legal reserves are punitive measures imposed by the CBI on unhealthy banks,” Miremadi said, reiterating that the regulator has increased oversight of lenders and tightened rules by which banks abide.