The Cooperative Development Finance Group is a capacity to advance the bank’s financial innovations

According to the financial news, Mohammad Sheikh Hosseini, Managing Director of Cooperative Development Bank, stated at the annual meeting of the Cooperative Development Financial Group, that today’s banking is under the influence of technological advances and new methods of financing.

He added: The use of new methods of financing and increasing the interaction between the money market and the capital market requires the use of intermediary institutions in the models, and the presence of the cooperative development financial group can be a capacity for the development and use of new models.

Sheikh Hosseini pointed out: the report of the company’s legal auditor shows that the financial group of the development of the cooperative carried out its financial activities in the financial year ending in Azar 1401 according to the financial and accounting standards, and the state of the company’s financial statements is favorable.

The Managing Director of Cooperative Development Bank said: The Cooperative Development Financial Group has an agile structure and this company, with the presence of financial and investment experts and the appropriate statutory capacity, can be effective in completing the value chain of Cooperative Development Bank and creating value for the beneficiaries and the target society of the cooperative sector. be

He clarified: If new methods of financing, including crowdfunding, step bonds, types of sukuk, and Islamic financial bonds are used at a higher level for the benefit of cooperatives and projects of the cooperative sector, the role of the financial group will be more tangible. And it will be more visible.

Sheikh Hosseini emphasized: With the follow-ups carried out at various levels, the issue of increasing the bank’s capital has progressed to the appropriate stages, and with the imminent realization of the capital increase, the possibility of developing the activities of the subsidiaries will also be provided.

In Admeh, Seyed Baqer Fatahi, Chairman of the Board of Directors of Cooperative Bank, stated: Cooperative Development Financial Group started its activity in 2014 and the bank’s company has always been with a development approach and in accordance with the requirements of the Central Bank and the Securities and Exchange Organization as two It is the main supervisor of the money and capital market.

Mohammad Jafar Irani, a member of the Board of Directors of Tehseh Cooperative Bank, who was also present at the meeting, said: “It is very important that the resolutions of the annual assembly are properly considered throughout the year, and the report of the company’s actions in the area of ​​the assembly’s resolutions is presented in the next year’s assembly meeting. .

It should be noted that this meeting started with the presentation of the company’s legal auditor’s report on the financial and operational activities of the cooperative development financial group for one year ending at the end of December 1401 and with the presence of the representative of the Securities and Exchange Organization, and the members of the assembly approved the financial statements and the way the company operates. They approved the contract.

Also, Mohammad Zulfiqari, Deputy Managing Director for Finance and Support Affairs, Hassan Sharifi, Deputy Managing Director for Banking Operations, Seyed Hassan Hosseini Mutlaq, Head of the Security Central Office, Ramin Najmi, Head of the General Investment Department, Hashem Bouzarjamehr, Managing Director and Board Member of Cooperative Development Financial Group. , Maisham Derakhshande, Chairman of the Board of Directors, and Mohammad Reza Akbari Jour, a member of the Board of Directors of the company, Amir Mohammad Naseri Manshadi, on behalf of Menta Center, also presented important information about the company’s activities.