Chain financing, Cooperative Development Bank service to support cooperatives
According to the financial news, Shahram Bakhsha, deputy managing director of Cooperative Development Bank in planning and information technology affairs, announced that chain financing is the service of Cooperative Development Bank to support cooperatives.
Deputy Managing Director of Cooperative Development Bank for Planning and Information Technology who spoke on behalf of the managing director of the bank at the national event of financing opportunities in the country’s economic system at Imam Sadiq University (AS) said: important production, construction and economic projects in the form of Financing can be set up and operated.
He added: Cooperative Development Bank, as the most important financial institution in the cooperative sector, in addition to implementing various facility programs, also uses modern financing methods to support cooperatives.
The Deputy Managing Director of Tehseh Cooperative Bank pointed out: Chain financing is a solution that connects the chains in the production and procurement processes and raw materials and businesses that operate in the same field and have financial transactions, from single reference to Tek eliminates the need for the bank to receive facilities, and the bank is placed in the path of receiving and paying among the connected components of an industry or business and facilitates their financial and payment processes.
He explained: Cooperative Development Bank has provided this new model of financing for the use of cooperatives in various fields and it can facilitate financial exchanges and communication between cooperatives.
Bakhsha clarified: financing costs are one of the types of costs of production units, in order for the country’s economic plans to control prices and reduce inflation, it is necessary for the banking network to have the necessary measures to reduce the financing costs of enterprises. According to the conditions governing the banking network, banks can take solutions to reduce the cost of money and then allocate less expensive financial resources in the form of facilities and financing to production processes.
This executive official reminded: the banking network is responsible for more than 80% of the financing of the economy, in the situation where banks strictly and monthly observe the limits of facility payments in order to comply with the balance sheet control of the Central Bank, it is possible The lending capacity of banks does not meet some needs of productive and economic units, in this situation it is very important to use the capacities of the capital market, especially that modern financing by benefiting from the capital market with the role of banks has the advantage that It achieves transparency and purposefulness at a higher level.
Bakhsha emphasized: There are tools such as Murabaha bonds, Gam bonds, crowdfunding microfinance, and sukuk bonds that provide the possibility of financing important and microprojects.
He continued: One of the innovative solutions for the financial prosperity of the country’s economic system is to benefit from the resources of the insurance industry for use in financing processes, in fact, the communication between insurance companies and BAMs can be increased by using financial and investment models.
In this event, which was attended by Seyyed Ali Mirfakharai, the head of the General Department of Public Relations of the Cooperative Bank, scientific and specialized discussions were held by Mehdi Sadeghi Shabhani, the head of the Faculty of Islamic Studies and Economics of Imam Sadegh University (AS), as well as experts and managers of the investment company. Foreign Iran, Mustafafan Foundation Financial and Investment Holding, Tejarat Bank, Ma Insurance Company, Sepehr Capital Insurance Company, Alborz Insurance Company were mentioned.