Banks Not Obliged to Accept Securities as Collateral: CSDI

The Central Securities Depository of Iran (CSDI) says it has prepared a special platform to ease the way for shareholders to put up securities as collateral for bank loans, however, "It is for the banks to decide whether or not to comply."
The “CSDI’s task is [only] to create the platform, not be abreast of or get involved in banks' policies on this matter," Mohammad Baghestani, the CSDI chief, was quoted as saying by the CSDI website. 
So far three banks have accepted the “smart securities' collateralization”, namely Bank Melli, Mehr Iran Qarz al-Hassanah Bank and Resalat Qarz al-Hassanah Bank.