Khandozi in the opening ceremony of the 15th International Financial Industry Exhibition: As the Ministry of Economy, we are against the interference of the National Development Fund in the current projects.
The Minister of Economic Affairs and Finance said: The entry of banks into indirect investment was one of the good approvals, which shows the vision of revitalizing the role of the banking network in the capital market. This view is neither extreme nor exaggeration, which can lead to their withdrawal from stagnant investment.
According to the economic correspondent of the Bursa Times news site, The opening ceremony of the 15th exhibition of the country’s financial industry (stock exchange, bank and insurance), this morning, Tuesday, June 16, 1402, with the presence of Dr. Seyed Ehsan Khandozi, Minister of Economy and Finance, Engineer Majid Behzadpour, General Manager of Central Insurance of Iran, Dr. Mohammad Yaser Tayebnia, CEO of the company. Foulad Mubarakeh, Dr. Mohammad Reza Pourabrahimi, Chairman of the Economic Commission of the Islamic Council, Dr. Majid Eshghi, Chairman of the National Stock Exchange and Securities Organization, a group of managers of organizations, domestic and foreign companies, and media persons, were held at the permanent location of Tehran International Exhibitions.
Dr. Seyed Ahsan Khandozi, Minister of Economic Affairs and Finance
In the opening ceremony of the 15th International Financial Industry Exhibition (Stock Exchange, Bank and Insurance), Dr. Seyed Ahsan Khandozi, Minister of Economic Affairs and Finance, said: One of the points of interest in the performance of the country’s financial sector is the ratio of facilities to deposits in the banking system.
He continued: This ratio has increased from about 83 to about 85 percent, which indicates more use of bank capacity in providing facilities. At the same time, with this increase in non-current bank riyal claims, we reached from 4.08% to 4.04% in March 1401. These statistics show the efforts of the banking industry to reduce defaults in this area.
The Minister of Economic Affairs and Finance added: The capital increase of public companies has grown from 181 thousand billion tomans to 284 thousand billion tomans in 1401, and corporate bonds and financing of corporate sectors have increased from 32 thousand billion tomans to 124 thousand billion tomans in 1401. To have a 4 times increase in the financing of companies. In addition, the issuance of government bonds has also grown from 13 to 27 percent. In the Ministry of Economy, we have tried to allocate a small share of the government to the capital market so that there is room for the private sector. From the point of view of the government’s analysis, the financial industry is an industry that is the pillar of financing the real part of the economy. If we don’t have a strong financial industry, we won’t have a good real economy.
Dr. Khandozi continued: The role of the financial industry in the formation of gross capital is important. The negative investment growth of 5% in 1400 reached an investment growth of about 7%. Accordingly, we got out of the black hole of negative investment growth. If there is to be production growth, we cannot leave the financial sector at the disposal of speculators.
He added: The entry of banks into indirect investment was one of the good decisions that shows the revival of the investment role of the banking network in the capital market. This view is neither extreme nor exaggeration, which can lead to their withdrawal from stagnant investment.
The Minister of Economic Affairs and Finance noted: This policy will help to strengthen production. Increasing the issuance of sukuk bonds to increase investment, reforming the portfolio of investment companies and insurance companies were some of the good measures that have been taken.
Dr. Khandozi further stated: As the capital market activists witnessed in the past year and a half, there are good agreements between the government and the parliament to use the capital market as one of the basic capacities of the country’s financial system.
He added: The most important concern of the capital market activists, in addition to the institutional reforms that existed in the market in order to increase efficiency, liquidity and transparency, is the removal of monopolies, and positive events have occurred in this field.
The Minister of Economic Affairs and Finance said: When the government started working, 750 to 760 financial institutions were operating, and today this figure has reached more than 930 financial institutions, and these institutions are operating in one of the most transparent periods of the capital market.
Dr. Khandozi stated: One of the serious demands of economic activists who help the capital market is the issue of predictability, the lack of frequent changes in the regulations and by-laws of production activities to ensure the profitability of stock market industries in the country, and this is the case that We hope that we can have good news for this year with the cooperation of the parliament and with a long-term view on the approvals of the country’s listed industries and away from non-professional pricing that causes a decline in the profitability of the country’s industries.
He said about the use of cryptocurrencies: From the beginning of the 13th government, we insisted on using the capacities of cryptocurrencies in a legal way to help the business conditions of the country, and Matani also cooperated with other members, specifically the Central Bank and the Ministry of Energy in the field of cryptocurrency production. We have prepared currencies and cryptocurrency exchange machines, which are under the approval of the members of the government. We hope that with its approval, we will take a step towards the use of cryptocurrencies, and one of the axes of the 7th development program is the assignment of cryptocurrencies.
The Minister of Economic Affairs and Finance further stated: The government insisted that priority should be given to production and investment, based on this, a number of exemptions were included at the cost of losing part of the government’s income.
Dr. Khandozi added: This action was done with the aim of developing investment. Based on this, the banks got a direct investment license. Investments without prioritization are not acceptable. The strategy of withdrawing from previous wrong investments, such as the successful investment pattern of banks in the 1960s, is on the agenda. Our discriminating attitude towards the previous government is the investment license of banks.
Pointing out that the third axis is areas such as invoices and guarantees, he said: In the recent meeting of the Money and Credit Council, a good plan was approved in this area.
At the end of his speech, the Minister of Economic Affairs and Finance stated that, as the Ministry of Economy, we are against the intervention of the National Development Fund in current projects, he said: The best thing is that the National Development Fund is involved in the creation of new industries and large complexes. be economical In this regard, the entry of insurance investors can also complete the 5-sided development of investment in the country.
According to this report, the International Exhibition of Financial Industry (Stock Exchange, Bank and Insurance), as the biggest event in Iran in the field of stock exchange, banking and insurance, which is held annually with the presence of many capable domestic and foreign companies in the field of stock exchange, banking and insurance. It is a great opportunity for active companies to expose their achievements and services to the professionals and specialists of this field and to introduce their future activities and innovations, taking into account the market demand trend and the direction of the growth of this field. .
After more than 14 years of holding the international exhibition of the financial industry (stock exchange, bank and insurance), this event has been recognized as the most important and prestigious financial event of the country at the regional level and has met with the wide participation of financial market activists, experts and specialists. Therefore, let’s hope that the 15th round of this exhibition will be held more magnificently than before, along with the expansion of visitors and the presence of various countries.
Increasing people’s communication and awareness of the financial market and its services, raising financial literacy, providing internal capabilities in all three areas of the stock market, banking and insurance through education and culture, setting up a special booth for children and teenagers, holding educational workshops, and also providing the environment Suitable for international interactions due to the recent international progress in the financial field and the welcoming of foreign investors along with the atmosphere of B2B negotiations, the holding of the start-up event in the financial field, etc., are among the most important programs planned in this period of the exhibition.
It should be noted that the 15th financial industry exhibition (Tehran Stock Exchange, Bank and Insurance 1402), from 16 to 19 June 1402, in a space of 32 thousand square meters and with the presence of 200 active collections, in halls 35, 38, 40, 41 and 42 permanent locations of Tehran International Exhibition will be held.
Correspondent: Samad Yousefi