Spraying and irregular injection of bank facilities does not solve production problems

“As the Supreme Leader pointed out, money laundering does not solve a problem, and this The point is absolutely correct. For example, if a product is without economic justification, whatever amount of money is allocated to the unit, its output will still not be optimal. Therefore, a product that is not economically viable and does not benefit from the appropriate technology and knowledge base, naturally, no matter how much money is sprayed on it, it will not reach the necessary goal in the end.

The Governor of the Central Bank stated that many factors play a role in production, adding: “The view that the problem of production can be solved only by spraying and injecting money is not correct and the Supreme Leader’s order is to explain that only by injecting money.” Production cannot be started. Therefore, it is necessary to pay attention to the economic justification of production.

He added: “Of course, at the same time, it should be taken into account that by allocating targeted credits, production boom can be provided.” In explaining this point, I must say that we started the production chain financing category last year, so that credit instruments can be used to mobilize production, and this category will be pursued vigorously this year as well.

“One of the most important things that banks can consider in their credit policy is to pay attention to the two categories of credit and guarantee,” he said. “This means that we do not have to spend money on production, but in this The context of the guarantee can also play a very important role.

Dr. Salehabadi added: In explaining this, I will give an example. For example, when a manufacturing company needs money, it seeks to receive money by going to the bank and paying it to its superior. Suppose, for example, that a car company seeks to obtain working capital by going to a bank and paying it to a steel company to receive the materials needed to make a car; Now, instead of receiving money from the bank, this car company can go to the bank and instead of offering money to another company, leave the necessary guarantees with the bank and obtain securities and present them to the manufacturer or another company; The other company will then resubmit the bonds to another company that supplies the materials it needs.

The head of the central bank reminded: “Therefore, instead of rotating money between producers, the bonds rotate among them, and of course these bonds are guaranteed by the banks, and if one of the production circles needs liquidity, it can put these bonds in the capital market or Discount at a bank and receive his money.

He added: “In such circumstances, production can be started with less money.” Therefore, such securities can be used in the direction of the production chain and with less financial resources, the production cycle can be started.

Serious support of the Central Bank for knowledge-based companies

Dr. Salehabadi, referring to the banking support of the knowledge-based sector last year, said: In ten months, more than 50,000 billion tomans of facilities had been allocated to knowledge-based companies, which compared to the previous year, has grown by more than 100% and about 1,200 knowledge-based companies were able to use the financial resources of banks.

“This year, we continue to support knowledge-based companies and encourage the banking system to continue on this path,” he said.

He called the knowledge-based products with quality and said: the importance of this field stems from the fact that the knowledge-based product has the desired quality and competitive price. Therefore, in line with the orders of the Supreme Leader and given the role that knowledge-based products play in the national economy, we intend to seriously support this area.

Controlling the growth of liquidity plays an important role in maintaining the value of the national currency

The Governor of the Central Bank considered stability and calm in the foreign exchange market as a very important and effective thing in maintaining the value of the national currency and specified: market stability is one of these factors and of course the monetary base and liquidity in the country to maintain value The national currency is important. Therefore, it is necessary for liquidity to be commensurate with the economic situation, because controlling the growth of liquidity plays an important role in maintaining the value of the national currency.

He added: “This is one of the issues that started last year and we will follow it this year as well.” On the issue of the proportion of liquidity to the country’s economy, I must emphasize that this part refers to the financial discipline of the government and its relationship with the banking system, and of course another part is related to the relationship between the central bank and banks.

The head of the Monetary and Credit Council called one of the serious reforms that will be pursued this year the reform of the central bank’s relationship with the government and said: “In addition, the central bank’s relationship with banks also needs reform, so it is necessary for banks to observe the necessary discipline.” Accordingly, receiving money and overdrafting from central bank resources should be considered as a last resort by a bank. Therefore, banks should consider their liquidity balance, and for this, we have detailed plans that will be implemented this year, and we hope that with the implementation of these plans, more calm will prevail in the country’s economy.