Notify the banking network of a package of micro-facilities with easier guarantees; Until the end of this year

According to the Iran Economist, quoting the Central Bank, Dr. Salehabadi this morning at the twelfth meeting of successful heads of branches, which was held virtually, referring to the efforts of branch employees said: The efforts and efforts of employees in bank branches are very high and fair. Branch managers put a lot of effort into their job, which, along with the risks, is their own stress, and they are considered one of our hard-working colleagues in the banking network.

The Governor of the Central Bank added: “Branches are the front line of the banking network in providing services to the people and our employees and heads in the branches in the banking network have an irreplaceable and very important role in providing services to the public and must be honored.”

Emphasizing the need to observe customer orientation in banks, the highest official of the Central Bank said: the colleagues of the bank branches should consider this issue. Because it is to maintain the reputation of the banking network with the employees and branches that have the most interaction with the people. Therefore, while appreciating the activities of the employees of the branches, the activities should be taken care of in such a way that, God forbid, there is no dissatisfaction of the people in the services that are provided to the people within the framework of rules and regulations. Because the type of treatment of the client is very important and the proud face of the banking system should be shown to the people.

The Governor of the Central Bank went on to say that one of the most important issues in the banking network is to pay attention to resources and expenses, adding that every bank has resources and expenses. If costs exceed resources, it will cause a deficit and branch partners should pay attention to the bank’s liquidity management. A branch should not approve a facility without considering the liquidity and resources of the bank and the bank should not have the necessary resources.

Dr. Salehabadi added: “Of course, banks that are not liquid in terms of liquidity should sell the surplus property and provide the necessary liquidity to provide facilities from this place;” Because the duty of the banking network is to deposit funds, and in fact the bank is the intermediary of the depositor and depositable funds, and therefore, if the banks also have property, they should not deviate from their main duty, which is the intermediary of funds.

The Governor of the Central Bank mentioned another thing that is expected from the banking network to monitor the consumption of facilities and said: the monitoring of the consumption of facilities should be seriously pursued by the branches of banks. Recently, the Supreme Leader met with producers and artisans and rightly emphasized that liquidity has grown significantly over the past decade, while our capital growth and GDP have not been commensurate with it; Therefore, this has caused inflation.

He reminded: “From this perspective, monitoring the proper use of facilities is considered an important matter, part of which is monitoring by the banking network and the other part is the duty of the central bank to monitor systematically.” Therefore, one of the main policies and priorities of the government and the central bank is to direct banking resources and credits towards production, services and productive activities. I emphasize that these resources should be allocated to the productive sectors of the economy and not the non-productive and speculative sectors, such as gold and ….

Dr. Salehabadi, stating that the banking network needs to increase capital to strengthen, said: “Recently, we had a resolution on increasing the capital of banks to strengthen this.”

Regarding the open market operation, the Governor of the Central Bank reminded: “The purpose of the market operation was to compensate the banks for the lack of liquidity from this place in the short term.” Of course, the regulations of the Monetary and Credit Council have required banks to keep 3% of their assets in the form of Islamic securities.

According to Dr. Salehabadi, in implementing the precautionary policy to control the growth of some balance sheets, banks should be careful about the growth of their balance sheets within the limits set by the Monetary and Credit Council.

Governor of the Central Bank: Banks should adhere to the interest rate approved by the Monetary and Credit Council

The head of the Monetary and Credit Council, while emphasizing the need to observe the interest rates on facilities and deposits by the banking network, said: “This point has always been a criticism of the banking network.” Branches should be careful in this regard, because non-compliance with interest rates within the limits approved by the Monetary and Credit Council will lead to the referral of the bank’s case to the law enforcement, which has recently sent the case of several banks to the law enforcement. Of course, it is necessary to mention that non-observance of the approved interest rate causes the same bank to be unbalanced.

In another part of his speech, the Governor of the Central Bank also stressed the need to provide services to the fishing system through ATMs in the banking network.

The Governor of the Central Bank stressed the need to implement budgetary tasks by the banking network: These include support for knowledge-based companies, small and medium, housing, micro-loans Qarz al-Hasna such as marriage facilities, guaranteed purchase of wheat and support Corona-affected households noted that in these cases, banks are expected to regulate their resources and liquidity and comply with laws that do not cause public discontent.

Stating that micro-loans are a manifestation of the presence of people in bank branches, he added: “This issue should be taken seriously by bank branches, because this is very important among the masses of people.” Therefore, the implementation of legal duties must be done properly.

Dr. Salehabadi stated that the bank branches are expected to strictly observe the rules and regulations, and specified: It is expected that the banking network will adhere to the rules, ‌ of course, if the notified rules cause problems in implementing the rules. They can be resolved and the branches transferred to the central bank.

He added: “In the regulation working group, where the regulations of the Central Bank are approved, we also try to use banking experts in order to use the capacity of the elites and activists of the banking system so that foreign regulations are not implemented.” It is also essential that there are committees within the banks themselves that simplify regulations for branches.

Dr. Salehabadi: The banking system is one of the most important service institutions in the country

The head of the Monetary and Credit Council, stating that the banking system is one of the most important service institutions, reminded: “This is such that people go to the banks on a daily basis and the volume of banking services, both face-to-face and electronic, is very high in the country.” Ballast. Therefore, it is necessary to deal with customers in a way that leads to public satisfaction.

Dr. Salehabadi also emphasized on micro-loans: “Recently, there have been discussions about micro-loans to facilitate those micro-loans, and we are following this point closely.” Of course, I must emphasize that this does not mean a new title and a new loan, and it is within the framework of the current rules and regulations, and the only discussion is how to guarantee these loans. We need to facilitate microloans for the people, but in a way that does not increase the risk of the bank regardless of the customer’s credit.

The Governor of the Central Bank added: “One of the issues that is also considered in the world is the accreditation of the borrower.” A customer who has a good credit rating can deal more easily in the securities and facility guarantee section. We are working on it in the Central Bank and we hope to announce a package of micro-facilities with easier guarantees and, of course, with a suitable credit rating to the banking network by the end of the year. Of course, experience has shown that, for example, in one of the banks of Gharz al-Hasna, which offers small loans with easier guarantees, customers who have a more appropriate and higher credit rating; Their total arrears are less than one percent.

The Governor of the Central Bank reminded: “Therefore, if we can know the customer well with proper customer accreditation, we can provide banking facilities to eligible customers within the framework of existing headings with easier guarantees.” This increases public satisfaction with the banking network and reduces the risk of the banking network.

In the end, he added: “I congratulate the people who are elected as heads of branches and be successful in providing services to the people, and we are also your support in the banking network and one of the branch colleagues who follow the duty of serving the people in the bank branches.” Appreciate.