End of bank spraying; Monitoring all facilities of banks in the Central Bank

“Targeted guidance of banking facilities for sustainable employment and support for the real growth of knowledge-based companies is on the Central Bank’s agenda,” Mustafa Qamriova, the central bank’s public relations manager, tweeted.

He added: “The seven decrees of the Governor of the Central Bank to the CEOs of the banks are an important step in the framework of the comprehensive plan for the reform and transformation of the country’s banking network, which will put an end to past sprays with the expansion of smart supervision.”

According to the report; Earlier, Ali Salehabadi, Governor of the Central Bank, during a Nowruz meeting with CEOs of banks, emphasized on smart monitoring of banks’ performance in the new year, seven important decrees to support production boom, facilitate bank documents in providing micro-facilities to people, It had issued sustainable employment, practical support for the knowledge-based economy, and strict adherence to the monetary criteria set out in the banking system transformation program. According to these seven decrees, banks must:

– Put their financial discipline and credit health on the serious agenda.

– Facilitate the granting of banking facilities to the people by observing accurate credit and easier documents.

– Provide banking facilities to various production sectors in a targeted and correct manner.

Stop allocating bank credits and facilities to non-productive sectors.

– Take the necessary precautions in the field of controlling the amount of banks’ balance sheets accurately.

– Put liquidity management on the agenda seriously and implement intelligent monitoring of facility consumption.

– Overdraft of banks from the Central Bank is also prohibited according to Budget Law 1401, except by depositing valid documents.