Serious warning of the central bank to banks to adhere to the approved interest rate

According to the report of the financial news, quoting the public relations of the central bank, it is emphasized in this circular that despite the bank’s emphasis on the necessity of observing the bank interest rates, according to the inspections carried out and also the received reports, some banks and credit institutions still By resorting to different methods and methods, they violate the interest rates approved by this bank.

It should be noted that the continuation of the process of violation of the notified rules regarding the mentioned interest rates regardless of its consequences, while increasing the cost of money in the country’s banking network, causes the violation of the rights of other beneficiaries and also threatens the stability, health and financial strength of banks and It provides credit institutions. Therefore, in addition to issuing warnings and reminders to banks and credit institutions that violate the mentioned interest rates and dealing with them through the banks’ disciplinary board, the following measures are also included in the bank’s agenda regarding the offending banks and credit institutions:

– Closing or deactivating the unique ID of the offending branches;
– Taking into account the mentioned violations as important violations in deciding to issue the approval of the qualifications of managers of banks and credit institutions;
– Revision of the limits of permitted growth stipulated in the rules governing the control of the balance sheet amount;
– Reviewing the number of branches and counters;
– Considering the above-mentioned violations in the investigations related to the issuance of required licenses of banks and credit institutions, including licenses for holding meetings, increasing capital, providing foreign exchange services, etc.

It is also necessary for banks and credit institutions to dismiss the branch heads who have committed violations in complying with the rules of interest rates.

At the end of this circular, it is stated that the matter has been notified to all relevant units of banks and credit institutions in accordance with the provisions of Circular No. 149153/96 dated 5/16/1396 and for proper implementation It should be closely monitored.