According to the report of Iran Economist, citing the public relations of the central bank, Mohammad Reza Farzin, in his regular meeting with the CEOs of the banks, emphasized that in the implementation of the approval of the interest rate of deposits and facilities, we do not have to deal with anyone, he stated: the current interest rates, the rate It is good and if the banks work on this basis, there will be no problem. Unfortunately, according to the reports received, some banks do not adhere to the approved rates and do not comply with them. Therefore, any bank that does not comply will definitely be introduced to the banking disciplinary board and dealt with.
The Governor General of the Central Bank emphasized: Another issue that has been reported to us is that the granting of facilities in bank branches is subject to deposit, that the customer should be evaluated based on the turnover of his account, this is a principle of banking, but that the provision of facilities is subject to deposit. It is a report that has reached the central bank, and the CEOs of the banks must prevent this issue in their branches and comply with the law.
Farzin clarified: I have asked the deputy supervisor of the central bank to review the above two issues and submit a report to me in the coming days. In case of violation, we will deal with the bank’s board of directors.
According to this report, according to the circular of the central bank which was notified to the banking network on 10th of February 1401, the ceiling of the annual interest rate for long-term investment deposits is as follows: Normal short-term investment deposit: 5%; Special three-month short-term investment deposit: 12%; 6-month special short-term investment deposit: 17%; Long-term investment deposit with a maturity of one year: 5.20%; Long-term investment deposit with 2-year maturity: 5.21% and long-term investment deposit with 3-year maturity: 22.5%.
In addition, the interest rate for non-participatory contracts of banks and non-banking credit institutions was set at a maximum of 23%, and the expected interest rate of cooperative contracts that can be included in the contract in banks and non-banking credit institutions with customers was set at 23%.
* Economic stabilization is necessary to achieve economic growth
Referring to the economic policies in the agenda of the Central Bank and the government, the Governor General of the Central Bank stated: We must implement and realize these policies in the economy of our country with mutual efforts and cooperation. Last year, we faced a period of high inflation along with currency appreciation, which also affected inflation expectations, and these expectations intensified last year due to economic and political reasons.
Farzin added: In the new year, we adopted a policy called stabilization policy, the main axis of which is the control of money and currency, because we believe that if these two variables are controlled, then we can establish peace in the markets, and with the resulting performance, inflationary expectations will be reduced. is also corrected.
The Governor General of the Central Bank stated: “Fortunately, in the spring of this year, we were relatively able to control the currency and calm down in the currency market.” In terms of monetary policies, we almost managed to reduce the growth rate of liquidity, and this rate has returned to the 20% channel after many years, which is considered a great achievement; Of course, this is also a sign of the government’s cooperation.
According to the Governor General of the Central Bank in the field of monetary policy, it is still necessary to continue the balance sheet control policy because this is important in controlling the liquidity rate.
The head of the central bank considered this year to be the year of global recession and said: As we predicted, this year is the year of recession in the world because the growth rate of China and the West is decreasing and a significant decrease in the global growth rate is constantly seen, which causes the price of oil to decrease. Petrochemical products and other products are imported, and the latest customs statistics confirm this decrease. Therefore, because such a decrease was predictable for us to allocate the currency based on our predictions.
Stating that the currency market is moving towards stability, Farzin said: However, caution and care must be taken into account for the stability of the market. But the economic policy maker’s activities and foreign policy assistance have led the market to stability and we hope that this stability will continue in the summer as fluctuations usually happen in the summer. Of course, if this stability continues, we predict that the decline will continue in some sectors and asset markets.
Referring to the recent visit of the Head of the Judiciary to the Central Bank and the unveiling of the Syaq system, the Governor of the Central Bank said: In the meeting with him, the legal issues and problems of the banking system were raised. Therefore, it is necessary to form a joint legal committee between the Central Bank and the Judiciary with the presence of banks’ representatives for better and more interaction.
In this meeting, the deputies of the central bank presented reports on the latest economic developments and the performance of the banking network. Also, in this meeting, some of the CEOs of the banks also expressed their views on bank facilitation, guaranteed purchase of wheat, reduction of queues for marriage loans, the need to solve some problems in connecting systems related to the Ministry of Roads and Urban Development in the National Housing Plan. they did
end of message/