Administrative Justice Court Vote on Bank Deposits

Majid Qassim Kurdi, a senior private law and civil rights expert, told Mehr reporter: In a new directive notified by the central bank to the country's banking network, significant changes have been announced in how to calculate bank deposits. According to the resolution on December 5, it was decided that the daily interest rate of bank deposits would change from the beginning of February to the month. The decision, which has been met with reactions among depositors and experts, following the Court of Administrative Justice's lawsuit, eventually concluded that only deposits registered after the new resolution were affected by it.

He added: “As a result, banks were required to calculate the profits of previous deposits in accordance with the journey method.” This change has raised questions about how to calculate the profit and its impact on depositors.

Why is this change important?

Qassim Kurdi said: The decision of the Central Bank and the Court of Administrative Justice is important on a legal and financial question; How to calculate the profit of bank deposits? Should it be based on the daily or the month? This seemingly simple, but in its heart, has a complex and legal concept that requires attention to the fundamental principles of banking and legal operations.

How to calculate the profit of bank deposits; Daily or month count?

The legal expert said: In a non -usury banking operation, which was implemented in Iran in the early 1980s, the principle is that the profit from bank deposits should be based on the contract between the bank and the customer and with the respect of equity in dividend. Article 2 of the Banking Operations Act Without usury, it emphasizes that the profits of the deposits should be divided in accordance with the share of the bank's resources from the total funds involved in the banking operations according to the amount and amount of the deposit.

“However, how this profit is calculated in different situations,” he said. In the way of the day, the profit of the deposit per day is calculated and can make more profit in the interest of the depositor, as the basis for calculating the profit is the minimum daily inventory. In contrast, in the monthly method, profit calculation is based on the minimum account inventory in one month, which is usually more desirable for banks.

Profit and its effect on customers

Qasim Kurdi said: In the Iranian banking system, the profits of bank deposits are divided into two categories of profits and definitive profits. Periodic -paid profits mean the prediction of the profit that customers receive periodically until the definitive profit is calculated and paid at the end of the deposit time.

“These payments are aimed at motivating deposit, because failure to receive immediate profits can reduce people's willingness to deposit in banks,” the legal expert continued. However, what is important is that the profit, especially in the daily method, can increase with the daily inventory of the depositor, but will ultimately not affect the definitive profit.

The legal aspects of new changes

He added: “It is true that new changes in how to calculate the profit of deposits seem to be more focused on banks than depositors, but from a legal point of view, these changes require more careful examination.” According to the Court of Administrative Justice, the Central Bank's approval of the change of profit calculation must be made to deposit contracts that have Terry Don't find. This vote emphasizes the importance of respect for the principles of previous contracts and the rights of the law.

Complaint and ruling of administrative justice

Qasim Kurdi said: In a case filed by the Administrative Justice Court, one of the banks' customers requested the revocation of the central bank's approval for failing to receive profits according to the daily method. The plaintiff believed that changes without the customer's agreement were unjustified in property and unjust profits. Finally, the Administrative Justice Court decided that the central bank's resolution in this regard, if it influenced previous contracts, is contrary to the Shari'a and therefore revoked it.

He added: “This vote is noteworthy that it can affect monetary and banking policies and shows that the new central bank's new regulations cannot unilaterally spread to previous contracts.”

The solution of reform, not revocation

“Finally, it seems that the appropriate solution to this challenge seems to reform the central bank's resolution in a way that is more in line with the legal and legal standards, not its revocation,” the legal expert said. Reforming a more transparent decision and determining how to pay profits in banks can maintain both depositors' salaries and help banks act in line with the country's monetary policy.

At the end, Qasim Kurdi said: “In this regard, it is necessary for banks and the central bank to be more careful in providing information to depositors to prevent further legal and legal problems.”