Business And Markets

Banks Are Warned Not to Hike Rates

"The current interest rates are fair enough and if banks operate based on these rates there will be no problem. However, based on available reports some banks are in breach”
Banks Are Warned Not to Hike Rates
Banks Are Warned Not to Hike Rates

Mohammadreza Farzin, the governor of the Central Bank of Iran in a meeting with bank CEOs reemphasized the need to adhere to interest rates on deposits approved by the Money and Credit Council. 
"Failing to comply, even if it is only one bank, will undermine fair competition clout of others. I have instructed the Supervisory Deputy of the CBI to closely monitor lenders performance to this effect and take necessary measures on any bank that does not observe the approved interest rates for both deposits and loans,” CBI website quoted him as saying. 


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