Need for Banks to Support Entrepreneurship

EghtesadOnline: A lawmaker called for the establishment of specialized banks tasked with facilitating entrepreneurial development.

News ID: ۷۸۲۹۴۵

18 June 2018

The banking sector has long been grappling under President Hassan Rouhani with a discretionary system for granting loans, largely a legacy of the previous administration that piled a backlog of non-performing loans. “One of the Southeast Asian countries has an impressive record in creating jobs and boosting lucrative enterprises. In the long term, these small enterprises were combined into major ones and this achievement was made possible by banks that provided special backing to entrepreneurs,” Gholamali Jafarzadeh also told ICANA on Sunday, without naming the Asian country. “Facilities are concentrated in such banks for allocation to farmers, tourists and exporters. Our studies on other countries’ experiences with specialized banks have confirmed the need for us to move in the same direction to prevent any harm to the banks and any discretionary awards,” Financial Tribune quoted him as saying.