The role of Cooperative Development Bank in the economy is expanding

According to financial news, Seyyed Ehsan Khandozi, Minister of Economic Affairs and Finance, said at the first conference of Iran’s Cooperative Economy: Cooperative Development Bank, as a financing institution of the cooperative sector, experienced a good increase in activity last year, and we hope that this will continue. With the increase of the capital of the Cooperative Development Bank, the role of this bank in the Iranian economy will increase.

Khandozi said: We need government support, including the Ministry of Cooperatives, Labor and Social Welfare, the Cooperative Chamber and other cooperative institutions to develop and strengthen cooperatives. Our effort has been to help strengthen cooperative support institutions in the government. In this context, the capital increase for the Cooperative Development Bank and the capital increase for the Cooperative Investment Guarantee Fund have been made in the 13th government.

Referring to economic theories in the field of cooperation, Khandozi said: According to this theory, in the economy, balances due to cooperation and competition are preferred because it provides the interests of countries in the long term.

The Minister of Economic Affairs and Finance added: Cooperative is the crystallization of cooperative economy, these balances are embodied in cooperative institutions, companies and cooperative unions.

Stating that we are breathing in the atmosphere of imported economic culture, he said: less attention has been paid to the popular economic culture of the cooperative sector.

The Minister of Economic Affairs and Finance stated: Along with the development of cooperatives and micro-ownerships, a participatory role for the people should also be considered.

Referring to the activities of the top 36 equity companies, he said: these companies that were active in the equity market will go towards people’s participation.