Addressing the 30th Conference on Islamic Banking in Tehran, Abdolnasser-Hemmati said the current problems and imbalance in the banks have not happened overnight and the country should find ways to solve them prudently, adding that reforming the banking system is a long-term plan.
IRAN NEWS Economic Desk
He then pointed to some efforts for banking without interest (usury) which is a pre-requisite for Islamic banking, admitting the measures have not been enough in the past years and there are hurdles especially in allocating the sources.
Hemmati also gave an upbeat report about recovery of Iran’s economy, saying that national economy currently enjoys stability.
He said that the restoration of stability in the Iranian economy is fundamentally due to stability in the forex market coupled with a gradual fall in foreign exchange rates over the past months.
He said that the gradual reduction of monthly inflation since last March to levels under 1% this month is indicative of the reduction of the impacts of fluctuations of foreign exchange rates.
Besides the efforts to bring liquidity under control, the CBI is now most concerned about ways to provide financial resources for the production sector, Hemmati said.
The partial improvement of some economic indicators compared to figures from the last year is indicative of U.S. failure to achieve its goals, the CBI governor said, however, noting that removal of Iran’s economic problems, particularly reforming the national budgeting, requires sound measures and policies.
Hemmati also pointed to the curb of inflation adding that inflation rate for some groups of commodities has fallen in recent months and it will help the economic condition to become stable.
He also reiterated that some of problems in the banks are because of some corruption which had happened in the past, adding that since he took office as the governor of the central bank, he has called for accurate inspection and control of banking operations.
He also said that people should not ignore the good services of the banks to the society and national economy, adding that currently 90 percent of financing in the country is carried out by banks and they play important role in the economic development in the country.
