CBI Governor: Post-sanction era to help boost banking system

Boushehr, Aug 29, IRNA – The post-sanction period is going to help transform Iran’s banking system, says Central Bank Governor.

‘Under the western sanctions, Iran’s banking system experienced catastrophic days in particular periods of time,’ said Valiollah Seif in a joint meeting of public and private sectors officials in Boushehr on Friday evening.
‘Sanctions were aiming at paralyzing Iran’s banking system,’ Seif added, urging that the country’s banking system needed to be updated to keep the pace with the global banking system.
The most important problem of the country is finding a way to exit the present recession, said he, adding that the banking system should also adopt its vital role in the process and reduce inflation.
‘Under sanction, some domestic and foreign opportunists took advantage of the bad situation in Iran,’ Seif said.
‘But in future, such profiteering will be stopped, and we are going to utilize all the capacity we have to help boost production and economic development,’ the CBI governor said.