Iran's Banking System Heading for International Interactions

IBENA- Minister of Economic Affairs and Finance says one of his plans is removing banking restrictions and having interaction in international scale.

In the 28th Islamic Banking Conference, Iran’s Minister of Economic Affairs and Finance, Masoud Karbassian, hailed the current achievements and efforts of economic team of administration in economy saying based on mutual cooperation we will head toward achieving the priorities of economic plans of President to develop employment, to attract foreign investment, to privatize and democratize economy.

“Current year’s axial issue is supporting production and employment which has already been mentioned by the Supreme leader of the Islamic republic of Iran. Hence, production and employment are the most axial plans of President, he said.

Karbassian highlighted that re-creating hope and returning hope to the society, coming back to rules, bringing stability to macro economy, returning flourishing to economy, controlling inflation rate and keeping it in single-digit, decreasing interest rate, reducing liquidation growth, moving toward monetary reformation and discipline, controlling unauthorized credit institutes and impeding excited fluctuation of exchange market are some of the most important measures of the eleventh administration.

Preparation of banking system for international interactions, obtaining resistance economy through a transparent way, requirements of capital adequacy’s enhancement of banking system, increasing banks’ capital to raise their capital adequacy, developing the debt market and increasing the issuance of government securities, removing Banking Restrictions in Shadow of JCPOA (Joint Comprehensive Plan of Action) and keeping on the process of reforming base laws in the banking sector were delineated as some main plans of Ministry of Economic Affairs and Finance by Karbassian.