Bank Working Hours Cut Due to Power Shortages

EghtesadOnline: Banks and most government offices are cutting working hours following widespread power shortages that has gripped the country as temperatures rise.

News ID: ۷۸۶۶۳۷

10 July 2021

The public relations office of the Central Bank of Iran said Wednesday banks will be closed on Thursdays until the end of the next calendar month on August 22.

Closures mean that the electronic banking portal will also be off. The special coordination council of state-owned banks also said banks’ working hours will change.

Accordingly, banks will be open from 6:30 am until 13:30.

Some of the worst electricity shortages have hit the country for days as consumption jumped to unprecedented levels amid high temperatures and the draught continues to take a toll. Southern areas this week saw the mercury rise to 50+ C.

Iran Power Generation, Distribution and Transmission Company (Tavanir) on Tuesday ordered steel and cement factories to cut electricity consumption by 10% or face total cut off.

"The measure is to alleviate the worsening power shortages. Steel and cement producers have been asked to suspend work for 2-3 weeks and use the closure for repair and maintenance," Mostafa Rajabi Mashhadi, Tavanir's spokesman, was quoted as saying by Fars News Agency.