Central Bank: 30% Interest Rate is a Violation, We Will Take Action

IranGate
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Central Bank: 30% Interest Rate is a Violation, We Will Take Action

The Central Bank will take action against a 30% interest rate violation.

The Deputy of Supervision at the Central Bank emphasized the annulment of the 30% interest on deposits, stating that a 30% interest rate for investment funds of banks is also a violation and will definitely be addressed.

In response to whether there is a difference between the 30% interest on deposits and investment funds according to the Central Bank circular, he said that any type of deposit taking from any source, if not adhering to the rates by banks, is considered a violation by the Central Bank.

The Deputy of Supervision at the Central Bank stressed that regarding these investment funds, not adhering to the approved interest rates by the Central Bank is definitely a violation.

In response to the question about whether previous deposits with a 30% interest rate have also been annulled, he said yes, these deposits have been annulled.

The Deputy of the Central Bank stated that they are ready to receive reports of bank violations in the interest rate area, mentioning that many actions have been taken, and not all are publicly disclosed. Actions are taken at various levels regarding banks that do not comply.

Persian

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