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Guarantee Ban Removed For Top Debtors
Economy, Business And Markets

Guarantee Ban Removed For Top Debtors

The Money and Credit Council has suspended its earlier ban on banks to issue letters of guarantee for top debtors who are in default. The council’s decision is designed to help stimulate business activities and pull the economy out of recession, the Central Bank of Iran’s website reported. Some authorities had been urging an end to the previous ban because of the dire economic conditions couple with weak economic growth.

 

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