Economy, Business And Markets

500m Bank Accounts

500m Bank Accounts500m Bank Accounts

More than 500 million bank accounts exist in Iran with almost every citizen having about 4 to 5 accounts, said the head of Central Bank of Iran’s Payment Systems Department on Monday. According to Mehr News Agency, Davoud Mohammadbeigi said the banks do not charge clients for opening new accounts which is the reason for the unusually huge number of accounts. “However, foreign banks ask for a certain fee to open accounts and keep their customers’ money.”