Bank Melli Iran waives late payment penalties from its system outage and extends some loan maturities

Bank Melli Iran has put in place a package of measures, approved by its board, to make up for the effects of the outage in its banking systems between 23 Khordad and 23 Tir 1405 (13 June to 14 July 2026). Customers who could not pay instalments during that period will be exempt from the late payment charge, covering both interest for the period of delay and the penalty for late settlement, and will pay only the principal of the instalment, provided the overdue amount is no more than one month and no more than two instalments behind and is paid by the end of Mordad 1405 (22 August 2026).

If those instalments are not paid by the end of Mordad, the late payment charge for the whole period of delay will be collected under the normal rules. Maturities on lump sum facilities have also been extended by up to one two month period.

Late payment penalties on claims files for letters of credit and guarantees during the outage are covered by the waiver as well, provided customers and guarantors settle their current or non performing obligations within 30 days of the end of the outage period. The bank's public relations office announced the measures on Saturday 1 August 2026.