Expiration of the deadline for non-performing banks by the end of this week
According to Iran Economistone of the effective factors in curbing inflation is the imbalance of the banks, according to this, the central bank has put the policy of eliminating the imbalance of the banks in its agenda.
“Vahid Shaghaghi Shahri”, an expert on economic issues, about the reason for the banks’ disharmony Iran is an economist He said: The main reason for the banks’ dissatisfaction is the frozen assets and the banks’ corporate governance.
He added: If the banks sell or reassess their frozen assets, they will not have a significant discrepancy. The main problem is that these frozen assets exist in banks and are not used, and this has caused imbalance.
This expert stated: In the past months, the central bank has adopted the policy of reducing the dissatisfaction of banks, and based on this, it is trying to identify and sell the frozen properties of banks.
Shaghaghi Shahri continued: Gradually, with the sale of frozen assets, the imbalance of banks will decrease and the balance sheets of banks will become clear, and with the reduction of imbalance, we can hope to control inflation.
He stated: It is always said that banks should not do banking, and the central bank, as a monetary policy maker, is looking for banks to move less towards banking and to sell their frozen assets.
Stating that the value of the land in the hands of one of the banks is 15,000,000 billion tomans, this university economics professor said: Many of the properties of the banks are not at the current price and should be re-evaluated.
This economic expert continued: Activating Monjad’s properties and reducing banks’ toxic assets can work to reduce their disharmony, and the policy of the central bank is to abandon tolerance with banks and adopt a strict policy for the transparency of the banking system.
According to the Iran Economist report, Mohammad Reza Farzin, the head of the central bank, said about the causes of banks’ dissatisfaction: considering that 88% of the financing of the country is done by banks, therefore the government is one of the important reasons for banks’ dissatisfaction.
He considers capital adequacy and banks’ overdrafts from the central bank to be the cause of banks’ dissatisfaction and believes that if banks’ dissatisfaction is not resolved and money creation and liquidity growth are allowed, it will not be possible to curb inflation in the long term.
In May of this year, Farzin announced that non-performing banks have until the end of September to get out of this situation, otherwise they have to wait for the consequences.
According to the Central Bank’s ultimatum, non-performing banks have until September to resolve the problem of non-matching, which has an adverse effect on macroeconomic indicators.
About the actions taken during this period, we can mention the acquisition of 60% of the voting rights of Future Bank shares to the Ministry of Economy. In the following, the Ministry of Economy announced the surplus shares of the shareholders of 9 private banks (Capital, New Economy, Parsian, Sina, Tejarat, Export Iran, Shahr, Entrepreneur and Tourism) whose meetings have been held so far. Considering that according to the law of general policies Article 44, no single owner can own more than 10% of a bank without the permission of the Central Bank. The voting rights of the surplus shares of the shareholders will be transferred to the Ministry of Economy.