11503
$2.3b Fraud Case
Economy, Business And Markets

$2.3b Fraud Case

Judiciary Chief Ayatollah Sadeq Larijani has criticized the banking system for providing loans without receiving sufficient or valid collaterals, IRNA reported.   The judiciary will soon look into three major financial fraud cases, said Larijani in a meeting of in Khorramabad, Lorestan. “One of the cases deals with the matter that a private bank has given a single individual a substantial loan of 65 trillion rials ($2.3 billion at official exchange rate),” he said. “Apparently,” he added, “portions of the amount have been transferred abroad in form of foreign exchange.” He urged authorities to take necessary precautions to prevent illegal exploitation of national resources. 

Short URL : http://goo.gl/yrRd2D

You can also read ...

Iran’s net hot-rolled coil consumption was 5.6 million tons in 2017, of which 0.8 million tons were imported.
Russia and Kazakhstan are temporarily stepping back on sales...
Europe May Tap Cryptocurrencies to Shield Iran Against US Sanctions
The European Union may opt for digital currencies in its...
EU foreign policy chief, Federica Mogherini, hailed the imposition of the blocking statute on Monday as a “consistent step forward”.
As it races to save the Iran nuclear deal, the European Union...
Colza Production Exceeds Expectations
The government has purchased more than 300,000 tons of colza...
Plastic Production Plant Launched in Chabahar
A factory producing different kinds of plastic products was...
Secondary Forex Market: Corruption Loopholes Abound
Two goals set have been set for the recent establishment of...
Hashtgerd Subway Station Construction Underway
Iranian authorities are pushing ahead with construction plans...
Iranian Banks Downsizing Branches
Iran’s banks and credit institutions have continued the...

Trending

Googleplus