In an interview with the Iranian economic outlet Nod Eqtesadi, economist Farhad Biashad Labasani stated that Iran's banking system contains approximately 3,000 trillion tomans in bad debts. Based on the average dollar exchange rate over the past 47 years, he estimated the value of these losses at $140-160 billion. Labasani criticized the banks for continuing to accept public deposits and pay interest while losing such vast sums.
The Zioneer has previously reported on Iran's banking crisis, including the disappearance of funds from accounts and the freezing of assets abroad. The statement by economist Farhad Biashad Labasani provides a specific estimate of the scale of bad debts within the banking system. The interview was conducted by the Iranian economic outlet Nod Eqtesadi. The claims have not been independently verified.
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