Renewed Increase in the Number of Returned Checks in the First Half of 1402

On Thursday, December 9, the Open Data Iran website reported that changes to check laws in Iran in 1397 were supposed to solve the issue of returned checks, but according to data from the Central Bank of Iran, the ratio of returned checks has once again increased since the beginning of this year. According to the report, more than one out of every ten checks issued, with an average value of 874 million tomans, is returned. The Open Data Iran website stated that between 1395 and the first half of this year, over 72 million checks worth more than 15.5 trillion tomans were exchanged, of which 8 million checks worth nearly 2 trillion tomans were returned. The chart shows that the approval of the new check law in 1397 led to a significant reduction in returned checks. In Farvardin 1399, there was suddenly a large spike in the number and value of returned checks, which quickly subsided and reached its lowest point with fluctuations at the end of 1401. However, with the start of 1402, the chart has once again shown an upward trend, which some interpret as a resurgence of 'recession' in the real economy. According to the latest data from the Central Bank, in the first half of 1402, more than 4.5 million checks worth a total of 2,763 billion tomans were issued, of which only 3.8 million were collected, and nearly 380,000 checks were returned. The average value of each returned check in the first half of 1402 is 1.5 times the value of collected checks. The Central Bank claimed a reduction in returned checks; the Judiciary: the number of cases has increased. In one month, the Iranian economy saw 613,000 checks worth 34 trillion tomans returned. Reaction to the fall of the Tehran Stock Exchange: 'More than 10 trillion tomans' will be deposited into the market stabilization fund.