The mayor of Tehran, Mohammad Bagher Ghalibaf pointed out in opening ceremony of City Bank that civic development will be possible only through a banking group. "Studies indicate that there were some attempts to establish City Bank previously. It did not, however, come to reality for some reasons" he said.
Fiscal and monetary policies of I.R. Iran, as he mentioned, must be considered during all banking activities. "Young-orientation plays an important role in banking area and must be considered by City Bank managers" he pointed out.
City Bank, as he continued, provides a golden opportunity for the bank itself, the municipalities, the share holders, and the people to see the citys development, the shares dividend and the managers work result.
City Bank, as he remarks, has the capacity for becoming one of the first four banks of Iran during the next 3 to 4 years.
He said that City Bank will not succeed in developing cities unless through increasing the speed: "City Bank must be an exemplary model in monetary and fiscal laws observation in Iran and must play its role in the area of sustainable income to assure municipalities that City Bank is one of their significant counterparts in this area."
Dr. Ghalibaf continued on the sideline of the ceremony: "I am sure that City Bank can be effective in our cities development, just like other banks in all over the world."
The main challenge of City Bank, according to the mayor, is being able to use its facilities and liquidities to work on the civic projects as a prior task.
Pointing out the City Banks advantages, he also mentioned: "This bank, like others, will offer the usual services to people based on the law".
The mayor of Tehran said that we wait for liquidity in many parts: "All of us must observe the rules. So does City Bank. It must have certain amount and ceiling in granting loans to certain organizations and nothing must happen against the rules."