Government pressure on banks / Central Bank support for the capital market!

According to Tejarat News, the interbank interest rate was at 18.7% at the end of the summer season, but has now reached the range of 21.05%; This begs the question: why has the interest rate of banks and facilities not increased with the increase of bank interest rates?

In an Instagram interview with Tejarat News, Peyman Molavi, an expert and economic activist, predicted that the bond interest rate would move to 24%. According to him, the banks closed their folders in 1998 and 1999, and the bank interest rates rose in those years.

Mandatory policy to the detriment of banks

A banking expert believes that the increase in bank interest rates, ie the surplus assets of banks, has decreased. Bahauddin Hosseini Hashemi told Tejarat News: “Unofficial information shows that the interest rate on deposits and facilities of some banks has reached a limited 20 to 21 percent, the reason for this increase is the increase in the price of money and inflation.”

“In recent years, banks have also increased interest rates on their deposits without formal approval to attract more liquidity,” he said. central bank It also ignores these changes.

Banks say they have to increase their profits illegally to avoid liquidity risk.

Hosseini Hashemi explains: interest rate Banks will increase by the end of the year because; Banks’ claims on the public sector are difficult to meet, and the bank needs liquidity to reduce risk, so more money enters the bank as profits increase.

The banking expert stressed: “We are currently facing an orderly policy of reducing interest rates and interest rates, in which banks are increasing interest rates illegally to maintain their deposits.”

Hosseini Hashemi, referring to the decrease in banks ‘liquidity, said: “The government has borrowed directly and indirectly from most banks, as a result of which the banks’ liquidity has decreased. According to bank managers, the best way to attract liquidity is to increase profits.” The government has also required banks to buy bonds, partnerships and debt, which has reduced banks’ liquidity.

Hosseini Hashemi states that economic problems and government requirements for banks have led to an unofficial increase in interest rates.

Central Bank support for the capital market

But as Hamidreza Jihani says, the central bank does not increase banks’ interest rates to support the capital market, as it reduces economic attractiveness, resulting in a decline in production, services and trade in the country.

“The 13th government’s approach is to reduce bank deposits,” Ibn’s economist told Trade News. To prove this, we can refer to the taxation of deposits of legal entities.

According to him, the central bank has reduced its expansionary policy on banks and currently does not allow increasing bank profits.