Saderat Bank’s “set” is for untying the collateral of the facility

According to financial news, Yaser Moradi, executive member of Saderat Bank of Iran’s board of directors, explained the use of Saderat Bank’s electronic asset verification system (SET) and announced the bank’s readiness to provide special services for this strategic infrastructure to other banks and credit service providers. .

Describing the strategic features of the “SET” electronic asset verification system of Saderat Bank of Iran, Moradi stated that credit guarantee institutions are present all over the world and perform the task of validating bank customers, and said: “We must move towards obtaining collateral electronically.” . By providing this infrastructure, Iran Export Bank is ready to provide these facilities to other banks with minimum fees. At the same time, any bank that requests validation and receiving electronic collateral for its customers can use the capabilities and facilities of Iran Export Bank’s “SET” system.

He added: In our country, banks have always faced the problem of obtaining collateral and people have faced the problem of providing collateral. People introduce collaterals that are not accepted by banks and banks are strict in receiving collaterals. This is despite the fact that there are many financial assets that banks are reluctant to accept as collateral for facilities because they have problems with their liquidity. In fact, people have a series of stagnant assets that they tend to use as collateral for receiving facilities, but banks generally accept property, checks or promissory notes as collateral. Of course, in the meantime, a bank like Kargoshai Bank has accepted gold as collateral for micro-facilities.

The executive member of the board of directors of Saderat Bank of Iran, reminding that the banks are also faced with various lawsuits in many authorities at the time of collecting their claims, which weakens the possibility of collecting claims, said: With the pathologies carried out in Saderat Bank of Iran, we have been able to solve this problem by preparing an authentication system. Let’s fix the “set” electronic property.

He added: In the first step, we expanded the scope of collaterals and, in addition to traditional collaterals, we defined that every asset that can be liquidated should be taken as collateral, and in the second step, this action should be done electronically and in person, and most importantly, In the third step, the bank is no longer a party to collect claims, but this system sells and liquidates the collateral when necessary and pays the bank’s claims.

Moradi added: The first stage of setting up this system began by pledging shares online with the Central Depository System (SMAT), which has access to people’s shares, and the applicant refers to the “SET” system and evaluates the lowest six-month price of his shares and applies a The coefficient of 85% validates its shares. Over time, life insurance policy has been added to this collection. The credit of the applicant is determined by referring to the “SET” system.

He emphasized: “SET” system is not only prepared for the customers of Saderat Bank of Iran or other banks, but it is useful for fintechs that provide credit or centers that make credit purchases.

Moradi mentioned the units of fixed income funds as well as bank deposits in all banks among the verifiable assets in the “SET” system.

The executive member of the board of directors of Saderat Bank of Iran mentioned the use of the capacity of Kargoshai Bank for pledging gold, bonds, mobile phone SIM cards, equity shares, subsidies and real estate securities as other verifiable cases in the “SET” system.

He said: In simple terms, it can be said that Sadaret Bank of Iran issues a guarantee for the peace of mind of the person applying for credit facilities and purchases. The circular for the use of the “SET” system has been notified to all bank branches, and people applying for microloans, including marriage loans, childbearing loans, loans for home businesses of the Relief Committee, etc., and all Murabahah microloans, can refer to the “SET” system and address their loan guarantee concerns. solve themselves

Moradi stated: For applicants who make purchases through companies that provide credit purchases, special access will be created through the “Set” system, which can announce and validate their assets at the same time as credit purchases or installment purchases. The credit guarantee is done for him through the “SET” system and it is announced to the fintech group