TEHRAN – The Iranian administration owes 700 trillion rials (over $22.5 billion) to the national banking system, according to Abdonnaser Hemmati, the governor of Bank Melli Iran.
Iranian First Vice President Es'haq Jahangiri said on May 5 that a list of 575 major defaulters on bank loans has been prepared and sent to the Judiciary.
“The national banking system is in a critical situation, facing 820 trillion rials (about $32 billion) of bad loans,” the Mehr News Agency quoted Jahangiri as saying.
The Central Bank of Iran recently said that sixty-one Iranians owe more than one trillion tials (about $40 million) each in bad loans to the national banking system.
Moreover, 112 Iranians each have defaulted on 500-1,000 billion rials ($20-40 million) bank loans.
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