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    • The CEO of Bank Parsian told journalists: “The world no longer distrusts the Iranian monetary system.”

      The CEO of Bank Parsian told journalists: “The world no longer distrusts the Iranian monetary system.”

      Referring to the recent international agreements through foreign relations, Parvizian stated: “Confidence is being built between domestic and foreign financial institutions, and the world no longer distrusts the Iranian monetary system.”

      In a press conference, Parvizian stressed what matters in the monetary sector is a stable, long-term attitude: “Such stability is extremely influential in everyday business, ensuring the attitude of economic practitioners.”
      He pointed out that institutionalization of an appropriate monetary policy is only one side of the coin: “Another important attitude involves independence in monetary policy, which can provide the opportunity to adopt appropriate policies in the long run.
      Parvizian stated: “In previous years, inflation has been one of the most important issues discussed in monetary policy. In this regard, monetary policy-makers, the government and the policy-making agencies need to harmonize. We also adopted this policy to support and strengthen that move.”
      Emphasizing the appropriate policies and measures in this regard, he stated on behalf of the Central Bank, “It is crucial to adhere to the monetary policies, and we hope that the necessary policies are adopted to implement the previous ones. Moreover, it is critical to accelerate decision-making until vitality is found within the Iranian economic cycle.”
      The CEO of Bank Parsian continued: “While adopting the monetary policies, we concentrated on economic prosperity. In this regard, the government facing recession and inflation announced certain packages to control the situation. These packages served to instigate demand.
      Concerning the interest rates on deposits, Parvizian said: “We have considered the interests of Iranian people and businesses, while taking into account the interests of banks. The top priority, however, is Iranians and the country.” “We appealed for a recess between the cutdown on interest rates and financial facilities, so that we could pay the 18% profits accrued until July. The concurrent decline in interest rates jeopardized the banks as well as the people.”
      “Banks will engage in the murabaha credit card market during October. He continued:“Last year, the government announced a few packages where credit cards were offered for goods and cars in order to instigate demand. In this respect, a total of 110,000 domestically-manufactured cars were sold. In case of Iranian goods, however, the plan did not go so well. At the moment, certain modifications have been made and new credit cards have been offered. From October on, the banks will be engaged under the supervision of the Central Bank. We hope the new credit cards will drive the Iranian economy forward.”
      “As for the credit cards, we are looking for an ideal model.” He also noted:“Murabaha is a concept raised over recent years as a kind of contract well established in the Islamic banking system. As for the credit cards, however, we are looking for an ideal model widely recognized. Just as some folks argue, it is too dangerous to confuse Murabaha and credit cards.”
      Parvizian continued: “We have made a suggestion on credit cards. Here is the deal. A person visits a store and makes a purchase without any money in the card. The person has to pay the price to the bank within 45 days. In case of failure to pay the debt, it shall be divided into a 36-month installments. The person is better settle the debt within due date. Otherwise, they will not be able to use the credit card until the installments have been paid off.”
      He stated: “Bank Parsian seeks to connect to the international banking network, so that clients can use the credit cards in other countries.”
      The world no longer distrusts the Iranian monetary system.
      Referring to the recent international agreements through foreign relations, Parvizian stated: “Confidence is being built between domestic and foreign financial institutions, and the world no longer distrusts the Iranian monetary system.”
      The CEO of Bank Parsian said: “If the repayment in foreign currency cards exceeds the due time, the client will be subject to fines higher than the norm. So long as we need to offer efficient credit cards, we need to pursue that idea. Several discussions have been raised in this regard, and a bylaw from the Central Bank has covered it.”
      He added: “The expectations may go further, but the problems are partly due to the Iranian banking standards, partly due to the conditions of banks, and then partly due to problems overseas not fully lifted yet.”
      The CEO of Bank Parsian said: “During this period, various foreign business delegations have come to Iran through cooperation with chambers of commerce across the country. They intended to assess the national market, more or less willing to engage in the Iranian economy.”
      “In the sixth development plan, we are going to realize an 8 percent growth in the economy.”
      Stressing how it is critical to strike a balance in the Iranian economy, he added:“In the sixth development plan, we are going to realize an 8 percent growth in the economy. Before realization, we should figure out how to arrive at that point.”
      While emphasizing the poor coordination among different policies, Parvizian said: “Monetary policies may be enforced, but there might be inconsistent business policies that would not bring about the desirable outcomes. These policies need to be readjusted until we attain harmony.”
      He asserted: “If internal resources are injected into the country’s economy alongside external resources, then there will be a greater capacity. In this light, we are completing the production and civil development projects until a portion of the inefficiencies arising from lower oil prices are made up for.”
      The CEO of Bank Parsian continued: “The Iranian economy can be boosted by obtaining credit from foreign banks and international financial institutions, which can provide investment at larger scale.”
      He pointed to the recent policies on resistance economy: “We have contributed to support initiatives and public investment across the country, including projects related to drinking water transmission, gas distribution, upstream, oil extraction, particularly Yaran Oil Field in Hoveyzeh.”
      “Bank Parsian has dedicated a huge sum to supporting the agricultural sector.”
      On the protection of the agricultural sector, Parvizian said: “Over the past two years, private banks have been involved in guaranteed purchase of wheat, to which Parsian has dedicated a large sum.”
      He added: “Bank Parsian has been supporting small and medium-sized, knowledge-driven businesses by offering exclusive blocks, associated with enforcement of resistant economy. This can curtail the unemployment rate remarkably, while generating income through new ideas from the young workforce.”
      Parvizian said: “Owing to its large service chain, Bank Parsian can provide all services in one go.”
      “Bank Parsian set an example when treating SamenHujaj.”
      Regarding Financial and Credit Institute SamenHujaj (AS), he said:“According to the latest statistics from the Central Bank, there are only 33,000 out of 1,350,000 accounts opened inSamenHujaj, covering large sums.”
      Parvizian continued: “There are 22,000 depositors, most of whom had minor accounts settled during February-May last year.”
      He added: “Together with the Central Bank, we understand the concerns of depositors, and do our best to pay the sum within shortest possible time.” The CEO of Bank Parsian continued: “We have been required to pay deposits over 100 million tomans, where 35 million has been settled and the remainder is returned within one year.“He added: “To do this, no deposit has not been transferred to Bank Parsian, and this is the only guarantee given to us by the Central Bank for settlement.”