Thread by @Raman_Ghavami

#Update123- Report on the current situation of the #Banks_in_Iran just came in: #IranProtests
#Thread
Please read and look at the previous tweets first:
I have made it shorter
1)" ""Iranian Banks bankruptcy on the edge"""
The structure of banking system...

2)There are 2 main type of banking in Iran:1-governmental 2- private
Governmental sector are huge banks which have enormous amounts of fixed assets and loans.These loans have been paid to a few people who have power which people call it corruption and...

3)is about 40-50 percent of loans paid by these banks. The debtors will not pay it back anytime soon because the banks are not able to take it back.They have used many ways to do it, for instance, they request a loan about 200 billion Tomans($60000000.00)but in exchange...

4) they use their power and guarantee the loan by a 20 billion($6000000.00) house,…........... when the bank asks them to repay the loan they don't and the court vote to take over 20 billion($6000000.00) house and the debtor make a profit about 180 billion Tomans($54000000.00).

5)They also use low-interest rate percent to profit for example they take a loan equal to 100 billion ($30000000.00)-most of the loan is taken by powerful man are more than 10 billion Tomans equal to 10000 months of a worker salary in a month with an interest rate around 4-6.

6)They take these loans by proposing some projects to make factory and companies and create jobs for youths. However, in the simplest way they put the money in another bank with 23-25 percent interest rate and after several years they don’t pay it back!!!

7)In another way, they use these monies to import goods and due to the high inflation rate, they will profit more. It must be stated if these people were not powerful (political) they wouldn’t have been able to take even 100 million Tomans($30000.00).

8)This type is bankrupt but because of government support people trust more in them. In their last move, they have started to sell their properties because they are worried about the uprising. Due to the dangerous level of cash ratio, Tejarat bank is going to sale a large amount

9) of its property to almost half price. There is no true information about the situation of these banks but the government is in huge debt to these banks and government has no money to pay them.

10) The private sector is 2 type: 1-rely on IRGC 2- private !!!
The first type like ……………....... are related to IRGC but you can not track the owner of them because the companies actually don't exist.

11)The other part which is managed by rich people but most of these rich people use the money in their favor. For instance, an owner of one of the banks takes more than 1500 billion Tomans($450000000.00) and is not willing to pay it back (they own about 15 percent).

12)a corruption took place in this bank equal to 8000 billion Tomans($240000000.00) and there is no information where the money has been used in its last effort it has to attract money in the rate of 22 percent (the government stated rate for Iran is 15)

13)Other banks like ....................., it has increased its interest rate to 16-18 percent and it has been said for big money it would consider 25 percent while the governmental rate is 15 percent. In the recent years, due to a huge investment in fixed assets including houses

14) , branches and industrial sector, a great risk have been imposed on the banking system because they can not sell them due to the bad situation in the housing sector. 47 percent of banks assets are loans which are paid to corrupt and owner of private banks.

15) There is no formal financial statement but in a private meeting with some high ranked managers, they told us if 3 to 5 percent of investors take out their money the bankrupt banking system will collapse completely.
#IranProtests