Hemmati who is in Kuwait to attend a banking conference, themed “Shaping the Future,” said that it was a good conference and a good opportunity for him to exchange views with his counterparts in the region.
IRAN NEWS ECONOMIC DESK
Hemmati, who was talking on the sidelines of the conference, said that despite presence of representatives of Malaysia, Egypt, Jordan and Persian Gulf states, the topics of the conference were focused on the future challenges of the banks especially the pace of progress in technology.
He added that Iran’s banking system needs to comply with the progresses otherwise will face the same problems which the country faced when smart cellphones replaced the older and manual cellphones.
The other topic which was discussed in the conference was the debts of governments and households to the banks either in form of bonds or banking system, he added.
He noted that corporate debts are on the rise and it is expected the ratio of debts to the GDP of the countries to increase by 500% by 2040 and it will a significant figure.
Hemmati went on to say that on the sidelines of the conference he met his counterparts from the friendly countries and exchanged views.
He said despite the U.S. sanctions and pressures, most countries expressed their willing for cooperation with Iran.
He admitted that two countries also rejected cooperating with Iran due sanctions because of their concerns over the U.S. reactions.
Hemmati said that the conference was a good opportunity for him to elaborate the Iranian nation’s resistance against the sanctions and the way Iran has managed to skirt the sanctions and to make the sanctions ineffective.
He said most of participating countries in the conference believed that the U.S. weapon of sanctions is losing its sharpness and being ineffective, and they were happy that economic stability has been restored in the country.
