Overdue loans Banking and insurance in Iran

according unofficial figures, overdue loans have reached ir175,000bn ($17.8bn, €13.6bn, £11bn), increase of 75 per cent on 3 years (november 2008). plan inject $13 billion recapitalize banking sector (2008). ninety individuals have managed secure collective facilities totaling $8 billion iranian banks, previous $27 billion unpaid loans (2009).

in october 2009, iran s general inspection office informed iranian banks have usd 38 billion of delinquent loans, while capitalized @ usd 20 billion. current average late debts of iran s state banks on 15 percent while global standard 3 5 percent. non-performing loans peaked @ 17 percent of total loans in 2013, representing 10 percent of non-oil gross domestic product, according imf.

regarding corruption , cronyism in banking sector, tehran prosecutor general abbas jafari dowlatabadi said in 2016:

banking has been safe haven in such cases corruption incubate, high-ranking management turning blind eye on corruption underway in inner organizational levels , or actively participating gain illicit interests [..] 11 banks had paid sum of $2.5bn, 1287 individuals filing insolvency; deadlock solved requires 3 fundamental approaches; first remains banks adapt stricter roles , criteria granting loans; bank directors should in frontline of fight corruption; no run of-the-mill entrepreneur should receive inordinate amounts without putting in stake enough guarantees; cronyism should abolished , unqualified evidence should not lent credence individual’s credentials receiving loans.