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Bank Penalty Waiver Back on Agenda

Bank Penalty Waiver Back  on Agenda Bank Penalty Waiver Back  on Agenda

Governor of the Central Bank of Iran Abdolnasser Hemmati  has responded to a letter sent by the President of Iran Chamber of Commerce, Industries, Mines and Agriculture Gholamhossein Shafei who had called for reviving the penalty waiver for bank debtors included in the Budget Law for the fiscal 2018-19. In response to Shafei’s letter, Hemmati wrote that he would remove uncertainties around that measure and accelerate its implementation. The budget measure had been concluded after lengthy negotiations between lawmakers and the government. It was finally approved as a reciprocal move between the two sides, as the parliament also agreed with the government’s much-sought endeavor to revaluate its foreign exchange assets to reimburse its debts, including to the banking sector. 

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