3,850 Bank Debtors on Travel Ban List
3,850 Bank Debtors on Travel Ban List

3,850 Bank Debtors on Travel Ban List

3,850 Bank Debtors on Travel Ban List

Due to the importance of social rights and the necessity of banks to recover their non-performing loans, about 3,850 individuals have been put on the no-fly list and more than 4,400 have been removed from it since 2012, said the Central Bank of Iran’s director for legal affairs.
“When none of the other legal measures was effective, CBI had to use foreign travel ban as a last resort to recover bad debts to remove the production sector’s hurdles and increase the lenders’ capital,” Ardeshir Fereydouni was also quoted as saying by Banker.ir.
According to the latest CBI directive, natural persons with debts exceeding 3 billion rials ($78,000) and legal entities that have racked up debts higher than 5 billion rials ($130,000) and also do not possess a valid guarantee, namely immovable property like real-estate or movable property like deposits or other acceptable collaterals, will be placed on the no-fly list if demanded by the banks’ CEOs.
The government has repeatedly warned bank debtors of strict measures, if they do not immediately repay their debts.
Judiciary Spokesman Gholamhossein Mohseni Ejei announced that three main debtors, who collectively owe about 30 trillion rials ($762 million) to the banking sector, have been arrested.
It was reported that the NPLs of banks have more than quadrupled from 204.87 trillion rials ($6.4 billion) in 2007 to 863.42 trillion rials ($27.1 billion) in 2015. 
Banks have recovered only 203 trillion rials ($6.3 billion) of their non-performing loans in the past three years.


Short URL : https://goo.gl/njwc6Z
  1. https://goo.gl/IF9jjU
  • https://goo.gl/Yyyy4P
  • https://goo.gl/ZxaxWY
  • https://goo.gl/z0MmwO
  • https://goo.gl/0tfo94

You can also read ...

The ombudsman says if vehicles fail to comply with the local automotive standards by 2019, their production permits will not be renewed.
Head of Iran National Standards Organization has reiterated...
Real Rial Rate Main Booster of Exports
Iranian exports are currently suffering as a result of an "...
A ceremony was held to mark National Export Day in Tehran on Oct. 21.
Iran’s National Export Day was marked in a ceremony held in...
Chicken Exports Earn Over $9m
Close to 16,000 tons of chicken meat worth more than 312.96...
BMW Offices Raided in Cartel Investigation
BMW’s headquarters were raided by European Union officials...
TEDPIX Starts Trading Week With Strong Gains
Tehran Stock Exchange’s main index scored 662.60 points or 0....
Gold Coin Drops
The prices of benchmark gold coins in Tehran's market...
Banks Obliged to Set Up Compliance Department
The Central Bank of Iran in its latest directive publicized on...

Add new comment

Read our comment policy before posting your viewpoints

Enter the characters shown in the image.