Banking on private enterprise

Financial Times – Bypassing US economic sanctions is the function of a robust private sector and the banking sector will step in to empower private companies, said the CEO of state-owned Bank Melli Iran.

“If we want to evade the [US] sanctions, the private sector can do it best. It is indeed the banks’ mission to finance manufactures and exporting companies and offer them strong support,” the BMI website quoted Mohammadreza Hossienzadeh as saying.

Regarding national priorities, he pointed to the need to lift local production, which by nature leads to economic growth, create jobs and reduce inflation.

“Lenders should do all they can to deliver and address these priorities.”