Banks Sticking to Lower Interest Rates

EghtesadOnline: Since the implementation of the Central Bank of Iran’s directive decreeing banks and credit institutions cap their interests on one-year deposits at 15% from September 2, lenders have largely cooperated, the head of CBI’s Department of Supervision Over Banks and Credit Institutions said.

News ID: ۷۷۹۳۱۱

19 September 2017

“More than 1,000 bank branches have been inspected from the start of the directive and they have shown a suitable level of cooperation,” Ali Nassiri was also quoted as saying by the official news website of the central bank. However, echoing CBI Governor Valiollah Seif’s announcement that a number of violating branch heads were removed from their office, Nassiri confirmed that a few bank branches were found in violation of the directive and were confronted, according to Financial Tribune.