Karafarin Bank, Iran Chamber of Commerce, Industries, Mines & Agriculture (ICCIMA) Signed MOU

On the Week of Government, Karafarin Bank and ICCIMA signed a memorandum of understanding. This event took place in a ceremony in which Dr. Sourena Sattari, the Iranian Vice-President for Scientific & Technological Affairs and Gholamhossein Shafei, the head of the ICCIMA signed the said MOU.

In the inauguration ceremony of this chamber, Mohammad Reza Farzin stated that one of the most important sectors in which Karafarin Bank focuses on this year is technology and startups. “This MOU which is valid for two years, aims at supporting innovative activities of knowledge-based companies and startups and well as stimulating the economy focusing in various technological and innovative sectors.” He commented.
“The objective of this MOU is to finance those knowledge-based companies which require capital in order to export their products and services. Hence, following negotiations between Karafarin Bank and the ICCIMA, it was decided that in order to realise the mutual objectives of the two parties and in line with the Bank’s Two-Year Plan to provide finance for such companies, to set up a cooperate banking office within the International Exports Acceleration Company (IEACO) in the first phase of cooperation.
Emphasising on the necessity of such measures in the financial sectors relating to exports, Farzin stated: “Offering services to export accelerators provides opportunities to entrepreneurs to take advantage of modern methods, rather than conventional methods to gain sufficient market and customer information prior to entering the market and hence, to increase their market share.”
Having explained the means of financing these companies via Karafarin Bank, he continued by commenting: “Our mission at Karafarin Bank is to finance knowledge-based companies. Hopefully, with the cooperation of INIF we shall take effective steps towards realizing this mission.
Pointing out to the Bank’s cohesive plans in this field the managing director of Karafarin Bank stated: “This year, Karafarin Bank is ready offer services in all sectors to those projects which aim at accelerating exports which have been approved by the Iran Chamber of Commerce as well as the Scientific Deputy of the Presidency. Thus, all capacities of Karafarin Group shall be at the disposal of knowledge-based companies and startups, so that grounds for Iran’s economic progress and development may be paved. Furthermore, by doing so, the Bank hopes to fulfil its responsibility in supporting Iran’s production sector and industries more than ever before.”
In this ceremony Sourena Sattari, the Vice-President for Scientific & Technological Affairs (ICCIMA) and Shafei, the head of Iran Chamber of Commerce, Industries & Agriculture commended a number of selected startup groups. “Although ICCIMA is itself the pioneer in launching this project, yet the formation of the first Iranian centre for export acceleration which was inaugurated in cooperation with ICCIMA brings about heavier responsibilities for us in the Government.” Dr. Sourena Sattari commented.
He further pointed out to the formation of Iran’s first export acceleration centre, stating: “This accelerator is formed so that the ideas of young and innovative job creators who wish to export their products and services maybe turned into reality and so that they may find investors and ultimately exporting their products and services.” He also outlined the programs of the Scientific & Technological Deputy of the Presidency in this regard, stating: “We have numerous programs to support online businesses and startups, one of which is to support knowledge-based companies which cannot operate using the conventional export system. In explaining the export requirements of knowledge-based companies, Sattari said: “One of these requirements in obtaining special standards and approvals which have to be issued via specialised authorities. This is not the case in conventional exports. The rest of the world also follows the same procedure. Some online businesses flourished during the spreading of coronavirus pandemic. Indeed, this virus has turned out to be the biggest stimulator of startups and has managed to overcome the resistance of conventional businesses. Startups in insurance, training, health and fintechs especially, enjoyed a growth during the era of the mentioned pandemic. One of the ways in which we can support knowledge-based companies is to obtain standards for Iranian exporters or to take part in foreign exhibitions, to obtain loans and other services for them which help these companies grow.” He continued
Having expressed his thanks to the Scientific & Technological Deputy of the Presidency for its support, Shafei then said: “Conventional businesses which continue on their outdated paths, shall undoubtedly not be able to maintain their export markets. The formation of this new centre brings hope for the creation of modern export solutions in contemporary day and age.”
The vice-chairman of Iran Chamber of Commerce, Industries, Mines & Agriculture (ICCIMA) then explained the plans of this centre and the role of ICCIMA in strengthening exports, stating: “ICCIMA, the Scientific & Technological Deputy of the Presidency as well as Karafarin Bank shall put all their capacities in the export corridor at the disposal of export oriented knowledge-based companies and startups and shall not refrain from any help they can offer. Therefore, another five such centres shall be established in other provinces by the end of the year.”
According to this MOU which has been signed by Dr. Farzin and Dr.Salah Varzi, Karafarin Bank has become committed to: identify and prepare businesses for investment, valuate and invest in proportion to each businesses, offer specialised advisory services to startups which are active in the field of banking, financing, brokerage, insurance, leasing and forex services, as well as offering loans to startups and knowledge-based companies. All of these commitments shall be fulfilled within the framework of the Bank’s strategies.
Furthermore, according to the same MOU, ICCIMA has been committed to: creating necessary environment and facilities for the Bank to offer its services to startups and to pave grounds for cooperation and signing of MOUs with knowledge-based companies, creating a culture and effectively spreading the word to encourage its members to take advantage of the capacities created for the purpose of obtaining finance.

Aug 25, 2020