Central Bank: 30% interest is a violation, we will take action
The Deputy Supervisor of the Central Bank emphasized the annulment of 30% interest on deposits, stating that 30% interest for bank investment funds is also a violation and will definitely be addressed.
In response to whether, according to the Central Bank’s directive, there is any difference between 30% interest for deposits and investment funds, he said that any type of deposit with any source, if considered as non-compliance with rates by banks, is a violation from the Central Bank’s perspective.
The Deputy Supervisor of the Central Bank stressed that regarding these investment funds, since they do not adhere to the interest rates approved by the Central Bank, it is certainly a violation.
In response to whether previous deposits with 30% interest have also been annulled, he said yes, these deposits have been annulled.
The Deputy of the Central Bank, stating that they are ready to receive reports of banks’ violations in the interest rate domain, clarified that many actions have been taken, and not all actions are necessarily publicized. Actions are taken at various levels concerning banks that do not comply.