Title: Central Bank of Iran Outlines Seven Streamlined Paths to Resolve Bounced Cheques
In a significant move to streamline financial processes and support economic actors, the Central Bank of the Islamic Republic of Iran has announced seven official and expedited methods for individuals to clear their records of bounced cheques. This initiative is designed to facilitate a more efficient resolution of such financial instruments and support the health of commercial transactions.
Citizens can now utilize these specified procedures directly through their local bank branches to rectify the negative mark left by a returned cheque.
The Seven Approved Methods
According to the Central Bank’s directive, the available pathways for resolving a bounced cheque are as follows:
- Settling the Debt: Depositing the full amount of the cheque into the current account, allowing the beneficiary to collect the funds.
- Blocking the Funds: Depositing the cheque’s value into a blocked account for a maximum period of one year.
- Surrendering the Cheque: Returning the original, physical cheque (the “laisse”) to the bank for official cancellation in the relevant system.
- Providing a Notarized Settlement: Submitting a formal, notarized letter of consent from the beneficiary of the cheque.
- Presenting an Official Judicial Letter: Obtaining and providing a confirmation letter from competent judicial authorities.
- Submitting a Final Court Ruling: Providing a definitive verdict issued by a competent court.
- Three-Year Lapse: Allowing three years to pass from the date of the non-payment certificate, provided no legal or criminal claims have been filed.
A Framework for Financial Resolution
The Central Bank has emphasized that each method has been established with a specific legal and administrative framework to address the various circumstances that can lead to a bounced cheque. For instance, the option to settle the debt directly ensures the beneficiary receives their rights promptly, while the judicial rulings provide a mechanism for resolving more complex disputes with legal certainty.
A key stipulation from the Central Bank is that the use of any method must be formally confirmed and processed through the banking branches. This ensures that the procedure for clearing one’s record is conducted lawfully and correctly. Applicants are therefore advised to carefully review the specific conditions and regulations associated with each method before proceeding.