Tuesday 21st August 2018
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    • We are Not Far From the Decline of the Currency Market Turmoil

      Ahmad Derakhshandeh:

      We are Not Far From the Decline of the Currency Market Turmoil

      We are Not Far From the Decline of the Currency Market Turmoil

      Emphasizing on the continued support of the country's banking system of enterprises, Ahmad Derakhshandeh, said:" Distribution of banking resources to increase production, employment creation and economic growth, have always been on the agenda of the country's banking system.

      According to the Communications Center and Public Relations of Bank Shahr, stating that the banks' resources in the current year are largely aimed at supporting domestic production and particular enterprises, this bank expert added:" Under the slogan of the year, "Supporting the Domestic Production", The banking system in 2018 has moved in such a way that in allocating the necessary and available credits to the manufacturing sectors, increase its supporting measures from this sector with the aim of accompanying the government".
      Referring to some rumors about the withdrawal of deposits by the compatriots from banks and the entry of these capitals into the foreign exchange market and the declined support of the enterprises by banking system of the country, he clarified that:" The property of the monetary system in different countries, including Iran, is the way that banks basically have the liquidity and circulation of money in different economic conditions will only result in money transfer between banks or the types of deposits".
      "In this regard and due to the existence of money laundering laws and also the maintenance of security, maintaining the liquidity is of banks functions, and withdrawal of this liquidity in cash and bank notes from the banks at high amounts is not possible; therefore, rumors circulating in the community regarding withdrawal of liquidity from the banks is basically false, and it seems that in the atmosphere of foreign exchange turmoil, only such non-specialized news are circulated", Derakhshandeh stressed .
      "The rumors attributed to us regarding the banks bankruptcy and disruptions in the banking system are certainly not true", he said "but this situation can be an opportunity for profiteers to use for their own benefit, and, on the other hand, they cause people's concern and disturbance of the public opinion; and as a result, the mental anxiety of the society.
      At the end, Derakhshandeh expressed his hope saying that: "God willing in the near future with government's wise policies in the political and economic sectors and in the central bank of the Islamic Republic of Iran, which has the task of overseeing the country's banking network, and also has recently undergone managerial changes, we will see a decline in turmoil of the market, especially in the exchange market.