The central bank has prohibited lend techs from charging fees from customers, and according to the new rules, only banks can charge fees from customers. The bank is also responsible for the customer’s creditworthiness.
In addition, the bank cannot transfer the facility to Land tech’s account and it must be directly provided to the supplier of the goods. According to Iran digital economy annotation, the Central Bank has announced the “requirements for the cooperation of credit institutions with financial aid companies” in which new rules have been established for lend techs and banks.
According to Article 11 of these regulations, lend tech cannot charge fees directly from the customer, and only the bank is allowed to do so. In note one of this article, it is stated: “The credit institution is obliged to monitor the non-charging of fees from the customer by the auxiliary facility, and in case of this issue, the credit institution must refrain from continuing cooperation with that auxiliary facility.”
The second note also stipulates that Lend tech must receive its service fees from the bank: “The amount and manner of receiving the service fees provided by the assistive facilities to the customer only from the card received by the credit institution from the customer and in accordance with the provisions of the contract concluded between the credit institution and the assistive facilities It is possible.”
No Comment! Be the first one.