NPL Penalty Waiver Ceiling to Increase
NPL Penalty Waiver Ceiling to Increase

NPL Penalty Waiver Ceiling to Increase

NPL Penalty Waiver Ceiling to Increase

Governor of the Central Bank of Iran Valiollah Seif announced that the second phase of waiving late payment penalties for non-performing loans will be implemented soon. In the second phase of waiving NPL fines, the ceiling will increase from 100 million rials ($2,800) to 250 million rials ($6,500), and detailed regulations will be announced in the future. About 22,500 billion rials ($0.6 billion) were allocated to the banking system to waive late payment penalties and they will receive 54 trillion rials ($1.4 billion) in the current year for the same purpose. Since February 2017, when the Cabinet first approved the waiver of penalties for non-performing loans, about 8 trillion rials ($213 million) in fines were waived and the banking system recovered more than 1.6 trillion rials ($426 million) in bad debt.


Short URL : https://goo.gl/tvl5yS
  1. https://goo.gl/6byHGj
  • https://goo.gl/stBNic
  • https://goo.gl/dX0UEz
  • https://goo.gl/GMBlZp
  • https://goo.gl/6uJzwy

You can also read ...

CBI Moves to Sideline USD
As part of the latest measure to ditch the US dollar from the...
Effects of Sanctions on Food Consumption of the Poor
It is now clear that the purpose of US sanctions against Iran...
Sanctions, Banking Troubles Facing Iranians in Hong Kong
Banking for companies that do business with Iran–as well as...
Surcharge on Forex Rate Difference “Illegal”
The retrospective application of Clause Five of the government...
New Online System to Monitor Warehouses Countrywide
All warehouses in Iran are required to register in the so-...
Bank Loans Hit €18 Billion in 4 Months
Banks and credit institutions allocated a total of 1.67...
Sesame Oil, Products Imported From  6 Countries
More than 1.38 million tons of sesame oil and products worth $...
Gov’t to Build  2 New Towns
The Iranian government will commence the process of building...

Add new comment

Read our comment policy before posting your viewpoints