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BMI Trying to Address Cash Flow Issues

BMI Trying to Address Cash Flow Issues BMI Trying to Address Cash Flow Issues

In the first 9 months of the current fiscal year, Bank Melli Iran (BMI) provided 220 trillion rials ($8 billion at official exchange rate) in loans in an attempt to address part of cash flow problems the Iranian companies face as well as to help the government handle unfinished national projects, said Abdolnaser Hemmati, the bank’s CEO.  In a meeting held in Mazandaran with the private sector investors, Hemmati explained about the problems facing the bank to provide loans for businesses, saying that his bank “would do whatever it can to resolve the investors’ cash flow problems,” FNA quoted him as saying.  His remarks came after the investors called on Bank Melli, largest state-owned bank in Iran, during the meeting for more financial support.  Given the increased amount of non-performing loans and government debts to BMI, the bank is currently only able to incorporate 40% of its potentials in providing financial services.

Financialtribune.com