Important order of the central bank to the banks
In a circular to the banking network, the central bank obliged the banks and credit institutions to deliver a copy of the contract to the recipient facilities.
Banks and credit institutions are obliged to provide a copy of the contract of the granted facility, which has the same legal value as other copies, along with the complete information of the facility, within a maximum of seven working days after the request of the “beneficiary”, “guarantor” or “guarantor”. delivered to the requester, including the schedule of installments.
In the implementation of the legal obligation stipulated in the note under Article (23) of the “Law on Continuous Improvement of the Business Environment” approved by the Islamic Council on 16.11.1390, uniform forms of contracts for banking facilities are prepared by the Central Bank and after their approval by the Monetary Council and Credit, status was communicated to the country’s banking network through several circulars.
In the mentioned circulars, it was emphasized that banks and non-banking credit institutions are obliged to take the necessary measures with the aim of fully informing the “beneficiary”, “guarantor” and “guarantor” of the bank facility of the provisions of the contract, and after concluding and signing the contract, A copy of it, which has the same legal value as other copies, should be provided to the mentioned persons as the case may be.
Further, based on the great importance of the issue and numerous received reports regarding the non-granting of a copy of the bank facility contracts to the facility recipient, guarantor, and guarantor, circulars emphasizing in this regard, including circulars No. 95.313238. Dated 1395.10.05, number 290003.96 dated 1396.09.13 and number 99.298326 dated 1399.09.19 were also notified to the country’s banking network.
Due to the lack of attention of some banks and non-banking credit institutions to this matter, despite the numerous emphasis and circulars of this bank in connection with the above-mentioned issue; In order to ensure the correct and complete implementation of the aforementioned tasks and related directives and to resolve the concerns in this regard, in addition to closely monitoring the implementation of the previous measures, the implementation of the following items and arrangements should also be placed on the agenda of that bank or credit institution as a matter of urgency. :
1- Within a maximum period of seven working days after the request of the recipient of the facility, the guarantor or guarantor, deliver to the applicant a copy of the concluded contract of the granted facility, which has the same legal value as its other copies, along with the complete information of the said facility, including the schedule of installments. to be
2- The supervisory and inspection units of that bank or non-banking credit institution will deal with the complaints that are raised in connection with the above matter, out of turn, and if the relevant employees and operators refuse to perform the above tasks, in addition to immediately referring the case of the violators to the competent authority. Dealing with violations as well as the Central Bank of the Islamic Republic of Iran, to provide the necessary measures or preparations, especially for the delivery of the items mentioned in the mentioned paragraph to the requester.
In the end, while reiterating that the responsibility for not complying with the above duties rests with the CEO and the members of the board of directors of banks and non-bank credit institutions, according to the provisions of Circular No. 149153.96 dated 16.5.1396, as a matter of urgency to all branches and units The concerned bank or credit institution should be notified and its proper implementation should be closely monitored
This post is written by shadmanamini