Banking system ‘falling short of meeting economic requirements’

MNA– President’s Chief of Staff has said JCPOA contributed to banking system; however, non-nuclear barriers have still made it lethargic and inefficient.

Mr. Mohammad Nahavandian told reporters Thursday that with all restrictions, Iran had succeeded in making its steel exported to the EU; “only part of the economic problems has roots in nuclear sanctions, which mainly hits domestic production; all boons of JCPOA contributed to betterment of the already crippled economy, but the situation is far from satisfactory and our banking system still falls short of meeting demands this economy requires,” he emphasized.

Nahavandian reiterated government’s much-vaunted achievement of making economic growth positive for the first time in past three decades; “positive growth is nourished by lifting of barriers on exports; however, in financial sector, banks still face restrictions and they should work in great care with foreign banks to do a simple transfer operation; this is not in par with the caliber of Iran’s economy and should be improved.

An inefficient banking system will definitely remain behind in terms of providing services to this economy when their perennial issues have piled up unsolved during decades,” he lamented.