EghtesadOnline: The Central Bank of Iran has parliamentary approval to receive 50 trillion rials ($1.19 billion) to start the next phases of the scheme to write-off fines on non-performing loans with the aim of reviving the principal amount, according to a member of the board of directors of the Planning and Budget Commission of the parliament.

EghtesadOnline: The government’s initiatives to recover banks’ non-performing loans are to continue in the current administration in line with curbing the volume of the banking system’s sour debts and improving banks’ risk ratings, the head of the Committee for Fighting Economic Crimes announced.

EghtesadOnline: Since a government scheme waived penalties for non-performing loans, a total of 40 trillion rials ($1.06 billion) worth of bad loans have been returned by the people, the deputy head of the Planning and Budget Commission of the parliament announced.

EghtesadOnline: As the Iranian banking system continues to grapple with the growing problem of sour loans, the governor of the Central Bank of Iran has urged lenders to direct the bulk of their efforts toward recovering their non-performing loans.