Stability necessary for money and capital markets

Head of Central Bank of Iran Valiollah Seif

Head of Central Bank of Iran Valiollah Seif

TEHRAN Feb 24(Shana)–Money market and capital market are so closely related in a way that one cannot be heeded while the other is overlooked, said head of Central Bank of Iran (CBI).

Speaking during a meeting with capital market businesses, Valiolah Seif made the remarks, adding money market faces the same volatilities the capital market faces.

He said initiatives taken to stabilize capital market are not enough, noting that in addition to capital market, serious and essential initiatives should be taken in money market to stabilize it.

“We don’t want to look back and blame the previous administration for all financial problems but some people try to blame the current administration for these problems. Here I would like to announce that the huge amounts of overdue banking loans have been formed in past four years and has nothing to do with the current administration which took office just one and a half years ago”, CBI’s head said.

Overdue banking loans problem has come to surface over recent months and officials from previous and current administrations blame each other for not settlement the large sums.