A brand new method in strengthening manufacturing and reforming the monetary system

World Courant

Based on IRNA, from the general public relations of the Nationwide Financial institution of Iran, the convention “Manufacturing financing: from entrepreneurship to entrepreneurship” was held on Saturday, November 26, 1403 with the presence of senior officers of the nation, together with the Speaker of the Islamic Council, the Minister of Financial Affairs and Finance, the Governor of the Central Financial institution and CEOs of banks had been held within the convention corridor of the Nationwide Financial institution of Iran.

This convention goals to look at the challenges and options of financing the manufacturing and switch of banks from entrepreneurship to entrepreneurship.

The aim of holding the convention “Manufacturing financing; From entrepreneurship to entrepreneurship”, along with the mutual considering and synergy of officers, researchers and financial professors, it’s to look at the strategic problem of banks’ withdrawal from entrepreneurship and the continuation of the method of entrepreneurship and to current new options and approaches on this class.

On this convention, the function of financing establishments within the growth of manufacturing, the present capacities within the nationwide financial system with an emphasis on new strategies and instruments for financing manufacturing, new applied sciences in facilitating financing and growth of producing companies, administration of liquidity and monetary imbalances for financing The sustainable finance of manufacturing was mentioned.

Banks ought to take steps to strengthen the financing of corporations

Abolfazl Najarzadeh, CEO of the Nationwide Financial institution of Iran and Chairman of the Banks Coordination Council, in his speech on the “Manufacturing Financing: From Entrepreneurship to Entrepreneurship” convention, talked about the holding of this convention as a turning level within the reforms of the nation’s banking system and acknowledged: Banks should The aim of strengthening manufacturing and the nationwide financial system is to alter the financing path of corporations.

He emphasised: the nation’s banking system ought to shortly transfer away from entrepreneurship and transfer in direction of entrepreneurship and sustainable financing.

Najarzadeh additional added: Our aim is to strengthen corporations and facilitate their financing, and banks ought to take steps on this path with the cooperation of the Ministry of Financial Affairs and Finance and utilizing all their capacities.

The top of the Banks Coordination Council additionally defined in regards to the targets of this convention: This occasion supplies a chance for synergy between consultants and authorities officers to supply sensible options to facilitate the financing strategy of corporations whereas analyzing the present issues.

The top of financial institution corporatization and the start of manufacturing financing period

In his speech on the convention, Minister of Financial Affairs and Finance, Abdul Naser Hemmati, identified the significance of the manufacturing financing legislation and mentioned: “This yr is the final yr of banking for banks, and subsequent yr, banks will probably be requested to fully withdraw from banking.”

Referring to the issues within the nation’s manufacturing and financial system, together with excessive inflation and financial instability, the Minister of Economic system emphasised that with the intention to obtain sustainable financial development, we should make elementary reforms in financial insurance policies and financing constructions.

Hemti additionally introduced the approval of the manufacturing financing legislation final yr, in accordance with him, this legislation may help resolve the monetary issues of manufacturing items.

He added: This legislation supplies new instruments to finance manufacturing and scale back strain on the banking system, so that we are going to not have to put strain on banks to finance corporations, and the implementation of this legislation may help financial development, supplied that particular consideration is paid to to the instruments supplied in it.

Hemmati lastly emphasised the need of utilizing new strategies of financing and strengthening the non-public sector on this area and added: We should always not rely solely on oil sources for financial development.

92% of financing within the nation is finished by way of the banking system

Mohammad Reza Farzin, the Governor Common of the Central Financial institution, in his speech on the “Manufacturing Financing: From Entrepreneurship to Entrepreneurship” convention, emphasised the necessity for variety in financing strategies and decreasing strain.

He pointed to the banking system and mentioned: At the moment, 92% of financing within the nation is finished by way of the banking system, which places a variety of strain on the banks. If we can not resolve this financing bottleneck, we won’t be able to realize 8% financial development.

Farzin continued to emphasise the need of standardization within the banking system and mentioned: Banks will need to have satisfactory capital with the intention to present non-inflationary financing.

He identified the challenges of making liquidity and added: Within the final six months, 1,200 new liquidity has been created within the financial system, half of which is included within the manufacturing financing cycle, however a big a part of this liquidity has been distributed in different sectors as nicely. .

The top of the central financial institution additionally pointed to the long run plans of the central financial institution to specialize banks and focus them on financing particular sectors and mentioned that this motion may help enhance the effectivity of the nation’s monetary system.

Parliament’s readiness to amend current legal guidelines with the intention to strengthen manufacturing and enhance the financing course of

Mohammad Baqer Qalibaf, Speaker of the Islamic Council, in his speech at this convention, emphasised the necessity to reform the views and approaches within the nation’s financial system and mentioned: Banks ought to distance themselves from entrepreneurship and begin financing manufacturing enterprises and initiatives.

He acknowledged: Within the area of handing over corporations, banks are dealing with challenges brought on by the dearth of braveness in making choices and the dearth of belief in consumers.

Ghalibaf continued: These views needs to be corrected in order that banks can hand over their corporations with extra confidence.

The Chairman of the Islamic Council additionally introduced the readiness of the Parliament to amend current legal guidelines with the intention to strengthen manufacturing and enhance the financing course of and mentioned that on this context, the Parliament is able to make any amendments as quickly as attainable; If the legal guidelines are applied and issues are noticed in them, the required amendments needs to be made shortly.

Lastly, the speaker of the parliament emphasised the significance of synergy and cooperation between the federal government and the parliament with the intention to strengthen the banking and manufacturing system.

Transferring in direction of structural reforms within the monetary system and manufacturing financing

This convention, which was held with the participation of senior financial officers and consultants in varied fields, emphasised the necessity for elementary modifications within the construction of the banking system and financing. The audio system all emphasised the significance of withdrawing from financial institution entrepreneurship and strengthening entrepreneurship for sustainable financing of manufacturing, that contemplating the challenges within the area of financing, decreasing dependence on oil revenues and utilizing new instruments for financing, this convention is a crucial step in direction of realizing It’s the financial targets of the nation.

It’s value mentioning that on the sidelines of this convention, the Tomb of the Unknown Martyrs was visited within the presence of officers and contributors, which honored the reminiscence of the martyrs and emphasised the willpower of the officers to serve the nationwide financial system and manufacturing.

A brand new method in strengthening manufacturing and reforming the monetary system

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