Production Support Should Be Accelerated in Financing System: Iran's Finance Minister

The Minister of Economic Affairs and Finance, at a meeting of the State Banks Coordination Council, emphasized the need to strengthen coordination among banks, improve discipline in the banking network, and accelerate support for the production sector and economic enterprises.

According to IRNA, the State Banks Coordination Council meeting was held under the chairmanship of Seyyed Ali Madanizadeh, Minister of Economic Affairs and Finance, and in this meeting, the most important issues and topics related to the banking network were examined. In this session, topics including improving banks' cybersecurity, supporting damaged economic enterprises, financing and returning enterprises to the production cycle, as well as some issues related to bank performance were discussed and reviewed.

Madanizadeh, emphasizing the importance of the banking system's role in financing the economy, called for greater attention by banks to directing resources and accelerating the provision of services and facilities needed by various economic sectors.

The Economy Minister also, referring to the need for greater coordination in the banking network, emphasized the precise implementation of communicated policies and duties and strengthening oversight of bank performance.

The Economy Minister, emphasizing support for damaged enterprises and the need to accelerate the process of reconstruction and return of these units to the production cycle, stated: The various capacities of the financing system should be used to support economic activities and preserve employment.

Madanizadeh further emphasized the need to pay attention to large industries and utilize the capital market's capacity for financing and revitalizing enterprises, as well as supporting knowledge-based companies.

The Minister of Economic Affairs and Finance said: Meetings are held quarterly with bank CEOs separately, and in them, the policies and issues emphasized by the ministry are carefully examined, and the reports of these meetings serve as the basis for the Ministry of Economy's decisions. - Tehran Times