The general view of the banking network should be corrected

According to the financial news report, it is clear to everyone that the engine of the fundamental factors is working, but whether the effect of these fundamental factors will appear sooner or more strongly or not, in many cases is derived from the psychological factor and the media factor. In other words, it can be said that the media flow and psychological factors sometimes open this compression prematurely or even abnormally affect the pricing over time.

In Iran’s economy, since the beginning of the 50s, when the country’s foreign exchange income was significant and the influencing factor of the exchange rate has created more sensitivity for elites and economic analysts, the influence of psychological factors in this field has been felt more and more deeply, which shows the power of the media. In the pricing of goods, it cannot be removed. These rate adjustments are extended to the entire economy and basically it can be said that the media can affect the economy.

Sometimes the news published by the media is influential in the decisions of economic managers. It is even possible in these cases that the economic manager acts passively instead of taking an active approach, which means that first the media news is published and an issue is raised in the society, then the manager or policy maker decides to adapt his actions to what happened, which shows the impact There is a lot of changes and developments in the field of media and especially the alignment of technology changes in the synergism of the pervasiveness of media issues in the economy.
If the media workers and journalists have correct knowledge about the duties of the media and know at what point and at what time in the history of the economy they are working, it is certain that news reporting and visualization will be better. Raising the level of awareness of people working in the field of economic media and then helping managers to make decisions.

Currently, Iran’s economic society needs a more reform-oriented or reformist view than the current view of the banking network. In other words, the media should fulfill its mission to achieve this goal well, and by creating discourse and discourse suitable for the society, it should clear some misunderstandings that exist regarding the money network.

Of course, there are serious problems and criticisms of the functioning of the banking network, which should be rationally and actively tried to be resolved, but the review of the literature in the field of economics shows that the condemnation of the functioning of the banking network has a serious advantage over the reformist view regarding it. Perhaps there are reasons for this type of view and dominant social bias, the most important of which can be found in the efforts of researchers to find the cause of inflation in Iran’s economy, the failure to meet public expectations from the literature on usury-free banking, stagnation in some parts of the economy, high interest rates. the expected profits in the facilities paid by the banks, the impossibility of the banks to respond positively to all the applicants in the line of the facilities (especially during periods of severe inflation when the line of applicants for the facilities increases greatly), the inappropriate performance of some banks, etc. It can be analyzed in its place. Of course, in other countries, even more advanced economies, this view prevails at times, the most important of which is when economic stagnation occurs in the economy. One of these examples, whose documents and media letters have been published, is the American economic recession in the years 1927 to 1935. At that time, the media created a network and understanding in the field of economy and money network, based on which, the condemning view of the American society at that time towards the performance of the country’s banking network was more intense.

It is necessary to know that money, the monetary sphere and the monetary network are one of the pillars of the economy that cannot be removed, and when a pillar can play the role of increasing power in the economy, there is no need to destroy that pillar and in fact it is not advisable to It weakened the pillar, but it is better if there are problems, that pillar should be fixed, repaired and corrected.
Again, if we want to use an example to better understand the content, it is good to look at the financial crisis between 2007 and 2010. The events of that period, which is referred to as the era of the financial crisis of mortgage loans, are actually the result of a high appetite for risk taking and ultimately mismanagement of mortgage loans and the process of turning mortgage facilities into securities on the balance sheets of some American banks and financial institutions. Its scope also spread to East Asia and caused a lot of financial losses to natural and legal persons who were facing the avalanche of crisis. But what we meant by expressing this example was; It is the method of monetary-financial and media management of that incident in such a way that without injecting all-round despair into the society, a significant part of it was managed and resolved in an acceptable manner, and the texts related to that incident have been in the books for years. A lesson is taught and training workshops are held for managers and researchers to familiarize themselves with the principle of crisis and how to manage it.

In the writer’s opinion, serious differences in the reform views of policymakers are harmful, and embedding productive coordinated policymaking in all policymaking matters regarding the banking network is a missing link in this path that the media can help internalize this concept in the society and restore and complete the views. Take an effective step.

In addition, in many cases, the media have promoted correct and logical actions in policy making, but in some cases, they also fuel misunderstandings. For example, regarding the budget laws and especially the recent budget laws, experts believe that the numbers and figures of loan facilities are much more than the capacity of the banking network, but this issue is not clarified by the media from the beginning, and even on the contrary, they insist on the necessity of their implementation at any cost. and naturally, after a period of time, due to the failure to fulfill these tasks, an unpleasant feeling is formed in the society about the non-cooperation of the banking network, and the sense of pessimism towards the performance of the banks is quickly intensified, while the issue was properly analyzed from the beginning. Was not. Therefore, if awareness is raised in society from the very beginning and constructive criticism is raised even to approved laws, we will not only witness positive and forward-looking events, but also prevent further social consequences and public misunderstandings. After all, in a country, there may be calculation mistakes even in the writing of laws, which is a natural thing that can be corrected by pointing it out.

It is important that the events that happen in the field of economy appear in the showcase of the banking network in many cases, but this does not mean that the root of those problems is in the banking network alone and the officials in this field are the cause. For example, when there is a chronic annual budget operating deficit in the economy, it is reasonable to expect that this operating deficit will be compensated either through internal money and eventually overdrafts by banks from the central bank, or through direct government borrowing from the central bank, which both These lead to an increase in the monetary base and ultimately chronic inflation, which from another point of view is reflected in the banking network’s showcase as the imbalance of banks. Therefore, it can be said that one of the reasons for the disharmony of the banking network is the country’s operating budget deficit.

Of course, the banking network in Iran has structural and various problems for different and numerous reasons, but what is clear is that this structure plays a serious role in many economic and social affairs of the country, and the critical view along with the scholarly view of the reformer is the missing link in media decision-making. It should not be neglected. This requirement to change the perspective, even in examining the performance of the main monetary policy maker, i.e. the central bank, and the arrangement of expectations from this institution should also be modified in its place and is not only specific to the country’s banks. For example, in line with the previous reference to the operating budget deficit and the way inflation occurs from that source, the central bank cannot be considered solely responsible for curbing inflation and even the entire monetary policy in the country, but in this particular case, complete coordination in all legislative matters. It is required to be implemented in different forces of the country along with appropriate media measures and public opinion.

Source: Economic News Weekly