CBI Says to Use New Credit Rating System

The Central Bank of Iran will announce a new mechanism for assessing bank customers' credibility in the next Iranian year (starts March 21), the CBI deputy head for innovative technologies said.

"Credit rating is a key prerequisite for offering credit to bank customers. Creating a strong and effective model for credit rating began a decade ago. We have managed to provide credit companies access to a comprehensive database of the people's financial records," Mehran Mahramian was quoted as saying by the CBI website Monday.

He was speaking in Tehran at the opening of the ninth Annual Conference on Electronic Banking and Payment Systems.