Selling Excess Assets Seen as Herculean Task for Banks

Demands imposed on banks, tough procedural mechanisms plus the worsening economic climate are impeding the sale of excess bank assets rendering the task almost impossible, an economic analyst says.
“Selling excess assets imposes a heavy burden on banks and hurls them at the forefront of investigative bodies that should determine whether everything was done in framework of law and transparently,” Hossein Mahmoudi Asl was quoted by IBENA as saying.
Banks own companies and real estate and have set up special managerial boards to manage their assets, and when assets are to be sold the boards will have to be dissolved, Mahmoudi Asl noted.