The Workers’ Welfare Bank published its list of debtors
According to the Iran Economist, the bank published a list of debtors with doubtful receivables over one thousand billion rials at the end of March last year.
According to the report, from yesterday until the moment of broadcasting the news, seven banks, including housing, agricultural, post-bank, export, national and commercial banks, published the names of their bank debtors.
By order of the President and the Ministry of Economy following last year, the banks were obliged to publish their list of large debtors and take action to repay them.
It is worth mentioning that according to paragraph “d” of Note 16 of Budget Law 1401 entitled “Regulatory Provisions”, the Central Bank of the Islamic Republic of Iran is obliged to use its information system and, if necessary, information received from banks and non-bank credit institutions (subject of part (2) of this Clause) Based on the definitions and examples determined by the Monetary and Credit Council, the balance of facilities and large liabilities and the amount of payment and the balance of facilities and liabilities of related persons and the amount of payment of each bank and non-bank credit institution separately by each person defined by the Monetary Council. And credit (related or single beneficiary), interest rate, repayment period, repayment period, repayment status (current, past due, deferred or doubtful receipt), type and amount of collateral received, made available to the public on the website of the Central Bank of the Islamic Republic of Iran And update it seasonally.
Banks and non-bank credit institutions are also obliged to provide the information contained in sub-paragraph (1) of this paragraph to the Central Bank on a quarterly basis.
In case of refusal to send all or part of the information, in due time, the credit institution, as the case may be, at the discretion of the Central Bank, to one of the offenses set forth in Article (44) of the Monetary and Banking Law or components (3) or (4) ( A) Article (14) of the Law on the Sixth Five-Year Plan for Economic, Social and Cultural Development of the Islamic Republic of Iran shall be condemned in accordance with the provisions set forth in the said Articles.
The Central Bank is obliged to submit a quarterly report on the cooperation or violation of banks and non-bank credit institutions to the Commission on Article 90 of the Constitution of the Islamic Republic of Iran and the Court of Audit.