15242
Restrictions on Iran Zamin Bank Removed
Economy, Business And Markets

Restrictions on Iran Zamin Bank Removed

The Central Bank of Iran lifted a ban on one billion rial checks issued by Iran Zamin Bank, allowing the lender’s checks to be processed in all bank branches across the country.
In early February, the CBI banned the acceptance and processing of over one billion rial checks of three private banks including Ayandeh, Sarmayeh and Iran Zamin. After a few days, the limit for Ayandeh, which was among the unauthorized banks at the time, was reduced to 100 million rial checks.
The ban was enacted on the three private entities due to their high amount of debt to the CBI, media reported.
In the ending days of the last fiscal year (which ended March 20), the ban on checks issued by Ayandeh and Sarmayeh was completely removed, but the restriction continued to persist on Iran Zamin Bank, whose CEO Kamal Seyedali immediately reacted criticizing the CBI’s ruling as “unjustified”.
There are now no restrictions against checks issued by commercial banks. Among financial institutions, however, Tose’e’s one billion rial checks are still banned from being processed in the national banking system.

 

Short URL : http://goo.gl/9Wa1iN

You can also read ...

iPhone 8 Arrives in Tehran
Apple’s new handsets iPhone 8 and 8 Plus arrived in Tehran on...
 President Hassan Rouhani (L) meets Russian President Vladimir Putin at 2015 BRICS summit in Russia.
The member states of BRICS, the association of five major...
BPI to Fund French Projects in Iran
Bpifrance, the country’s state investment bank, will finance...
Iran to Join Postal SWIFT in December
Iran will be connected to the financial services system of the...
4,200 State Accounts Moved to Central Bank of Iran
Some 4,200 state-owned companies’ bank accounts have been...
Montreal Hosts Iran-Canada Business Confab
The first conference between Iranian and Canadian businessmen...
Steel Exporters Welcome Rial Depreciation
It’s a fairly straightforward scenario. Weakening a domestic...
HRC accounted for the lion’s share of finished steel usage in Iran during the five-month period.
Iran’s semi-finished steel exports during the first five...

Trending

Googleplus