20% of the working capital of companies in the next year will be provided from bonds

According to Fars news agency, citing the public relations of the central bank, Ali Salehabadi stated in this interactive and like-minded meeting, emphasizing the support of banks to producers and the use of capital market tools in this regard: with this method, buyers of goods from the stock exchange can Gam bonds are purchased and sellers can sell the received bonds in the secondary market or transfer them to buy raw materials.

The Governor General of the Central Bank advised the CEOs of the banks: in order to diversify the financing methods, to finance the production sector through the guarantee of the bonds issued by the companies in the capital market.

Salehabadi emphasized: Fortunately, with the programs of the Central Bank, the financing of manufacturing companies through bonds, which is a non-inflationary method, reached more than 21 thousand billion tomans.

The head of the Central Bank considered one of the important tools of chain financing to be the use of step bonds or productive credit certificates and said: With this method, instead of receiving money from the bank, the manufacturing company can provide the raw materials it needs. to be financed in a chain.

Saleh Abadi said: These bonds were launched at the end of 2019 and until July this year, about 8.8 thousand billion Tomans have been used, but the central bank eased the regulations of these bonds in the Money and Credit Council and created an incentive package, and banks were also invited to Use these papers.

The Governor General of the Central Bank stated that fortunately, in the last two months, more than 13 thousand billion tomans of these bonds have been used to finance manufacturing companies, saying: in other words, 8.8 thousand billion tomans in the last two months and 13.5 thousand billion in the last two months. Tomans of these bonds have been used to finance companies.

He stated that in the coming months, the use of Gam bonds will increase in speed and added: next year, 20% of the working capital required by the companies will be financed through these bonds. With this action, financial instruments will be deepened in the capital markets and can be a great help to the production sector, and companies’ need for liquidity will also decrease.

The Governor General of the Central Bank also said: With the approval of the Money and Credit Council and the Executive Committee of the Central Bank, Gam bonds can be discounted and traded in the capital market as soon as they are issued.

Salehabadi added: These bonds are guaranteed by the bank, and the holder of the bonds can either keep them until the maturity date, or if they need liquidity, they can discount them in the capital market and receive their money from the capital market. .
He added: The seller can either keep these bonds with him or, if he needs liquidity, discount them in the capital market and receive his money from the capital market, and finally, when these bonds are due, the obligee of the bonds, It will be paid to the final holder of Gam bonds.

The Governor General of the Central Bank stated that we should be able to create mechanisms and tools in the system so that people can trust each other in business without knowing each other and added: the more credit instruments are developed in the country and the need for liquidity and money will decrease. And at the same time, the economic cycles of the country continue to work, a positive economic event has occurred in the country in terms of macroeconomics.

Dr. Salehabadi also considered the implementation of the tax exemption for banking network securities as an important step towards supporting production and banks and said: According to the Central Bank’s follow-ups and the relevant circulars in the Tax Affairs Organization, the income of legal entities for investing in securities Sukuk And all the securities that are issued within the framework of the laws and based on the rules and regulations of the Central Bank of the Islamic Republic of Iran, including bank deposit certificates, are subject to tax at a zero rate according to Note (1) of Article (143) of the Direct Taxes Law.

According to this report, in the continuation of this specialized meeting, the Governor General of the Central Bank, the Chairman of the Coordinating Council of State and Semi-State Banks, and some CEOs of the banks discussed the issues and solutions to solve the problems of the banking network.

In this meeting, the action of the Central Bank in revising the foreign exchange regulations after 10 years was also declared valuable, and in line with constructive interaction and improving the performance of the country’s banking network, especially in the field of foreign exchange, issues related to how to complete the preparations for the process of connecting to the network of foreign banks, ways The facilitation of foreign trade and the preparation of foreign exchange staff in order to take advantage of new international payment methods as well as the opening of letters of credit were emphasized by the senior managers of the banking network.

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