Memorandum of Understanding on the financing of chains of economic enterprises was signed

According to the Iran Economist, quoting the public relations of Bank Saderat Iran, the Memorandum of Understanding between the Ministry of Industry, Mines and Trade and seven export agents of Iran, Melli, Mellat, Trade, Industry and Mining, Parsian and Maskan on financing the production chain with the aim of reducing The cost of the product, accelerating the financing of manufacturing and economic enterprises, reducing diversion of resources and increasing the transparency and efficiency of financial allocation during a meeting attended by a member of the Expediency Council, Ministers of Industry, Mines and Trade and Economic Affairs and Finance and the Governor Central was signed.
The Governor of the Central Bank in this meeting, stating that the issue of financing production is one of the main priorities of the banking system, said: With the implementation of the production chain financing plan, the need for liquidity of units will decrease and as a result the pressure on the banking system will decrease. We will improve the balance sheets of banks.
Emphasizing that the plan will rely on credit instruments instead of focusing only on liquidity, Salehabadi said: “The important policy is to prevent the diversion of bank resources in non-productive and speculative markets and to guide credit in production.”
The Governor of the Central Bank called the monitoring of the consumption of facilities granted to the production network as another feature of this plan and said: “According to the designed mechanism, invoice issuance is done from a single system. And will be systematic.
The Chairman of the Monetary and Credit Council further mentioned the advantage of this plan in reducing the non-current receivables of banks and said: The product will be reduced with the implementation of the chain financing plan.
Salehabadi praised the joint work of the Central Bank, banks and ministries of industry, mining and trade, economic affairs and finance, and said: “From today, on a trial basis in seven operating banks of industry and mining, export, national, nation, trade, Parsian And housing will be activated in cooperation with the Ministries of Industry, Mines and Trade in the production financing chain in the areas of metals, automobiles, construction, home appliances, food industry, petrochemical products, machinery and equipment, and then will be extended to other industries.

The joint work is the result of the coordination of the economic team
Following the meeting, the Minister of Industry, Mines and Trade thanked the Central Bank and the operating banks for working together to help production and said: “Today we are witnessing a joint and coordinated work and this is a suitable and objective example for the coordination of the economic team.”
Fatemi Amin said that with the implementation of this plan, while facilitating the access of producers to banking resources, the diversion of these resources will be prevented.
The Minister of Industry, Mines and Trade, emphasizing that this project is being piloted today with the presence of seven operating banks, said: “The chain financing project is an effective aid to the banking system in credit management and guidance, and in return, production units It will be easier and a chain will get the necessary credit for their activities.
Fatemi Amin, stating that with this plan, we will see the elimination of formal factors in granting facilities, emphasized: the necessary infrastructure in the comprehensive trade system will be the basis for action and chain financing will be done in this context.
According to the Minister of Industry, Mines and Trade, the implementation of the chain financing agreement will increase the access of economic enterprises to financial resources by 30%.

Chain financing of the sanctions resistance ring
At the signing ceremony, the Minister of Economy and Finance thanked the Central Bank and the Ministry of Silence for their cooperation and called this joint work an example of synergy between the banks and the Ministry of Industry, Mines and Trade. And be helpful to producers in the current economic climate, which is under pressure from harsh sanctions.

Dr. Khandouzi called the financing of the production chain as a result of lowering the cost of production and systematizing the granting of credit to production and economic enterprises and said: “This increase in production has been a major concern for many years. There were three main priorities.
He added: “These measures will not only help production, but will also lead to the coherence and regulation of credit and facilities in production units, and accordingly, formal queues and requests to receive facilities will be eliminated, and with this measure with the least credit We will see the most coverage in the discussion of granting production facilities.
The Minister of Economy and Finance called the structural change an important feature of this plan and said: “We hope that this synergy will be generalized and continued, and as in the past, we will see production support by the banking network.”

A great change is taking place in the credit management of production
In this meeting, a member of the Expediency Discernment System, noting that today is a big day in the transformation and orientation of credit guidance in production, said: “Banks have been involved in this issue for a long time. Fortunately, with the efforts of the Central Bank Removed in this regard.
Regarding the single exchange rate, Ali Aghamohammadi said: “One of the most important features of next year’s budget is the single exchange rate, which helps to develop the country’s exports. Be the commercial hub of the region.
Agham Mohammadi expressed hope that we will not have stray resources in the name of production and that resources will be directed to production and that we will stop receiving loans in the style of taking money.
The head of the economic group of the Supreme Leader of the Revolution’s Office said: “This issue should be extended to the foreign exchange field as well. Their foreign exchange earnings must also be systematized.
He also stressed the importance of the stock market in this area and continued: “We must be able to strengthen the stock market in the process of this operation, and incidentally, many problems of stock exchange companies are in this area, and from now on, stock exchange companies must be provided.”
Agham Mohammadi added: “Many of the problems of banks are due to the fact that in the financing sector of companies, they provide land to the banks as collateral and in fact sell the burned land to the bank at a high price.”
He added: “Exchange companies should be in the process of chain financing in order for the shares to be secured, and through this, only exchange companies will be provided with facilities, and some of the problems of these companies will be solved.”