Iran's CB to Establish Investment Banks

EghtesadOnline: The Central Bank of Iran has decided to set up investment banks for meeting the funding requirements of the ailing production sector, the spokesperson of Majlis Presiding Board said.

News ID: ۷۸۲۷۳۸

28 May 2018

“In view of the challenges facing economic enterprises, the presiding board decided to summon Minister of Economic and Finance Affairs [Masoud Karbasian] and  CBI Governor Valiollah Seif to attend a closed-door session for a hearing on the latest economic issues,” Behrouz Nemati was also quoted as saying by IBENA.

Speaking to reporters after the meeting on Saturday, the lawmaker said, “It was agreed that in view of the country’s [economic] situation, CBI would supply producers with required facilities to spur production. Investment banks will be established to take on the task.” The decision is in line with a call by the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei to boost production and economic self-sufficiency, according to Financial Tribune.

He has been emphatic that backing domestic products and industries plays a significant role in easing the national economic woes, naming the current Iranian year, which began on March 21, the year of “Support for Iranian Products”.