Monetary and Banking Research Institution
Date:6/26/2018 10:12:15 PM   |   Code : 293744
$15 Million Banks’ Contract Values to Issue Guarantees on Services
Alireza Saleh:
$15 Million Banks’ Contract Values to Issue Guarantees on Services
Deputy Chairman of the National Development Fund, Alireza Saleh stated: “National Pension Fund is not supposed to serve as a bank or credit institution, but to consider issues regarding development to bring future benefits to the country. From the beginning of establishing National Development Fund, $35 billion loans were given to different sectors for investment where share of the private and cooperative sector was $15 billion as well as the share of the public sector companies were $20 billion.”

Emphasizing on the terms of providing loans which were export-oriented, Saleh continued: “Banks committed not to bring loans to supply in the market for reimbursement and it would be expected that the return is received from the projects except for the power plants committed to the central bank to change their Iranian Rials to foreign exchange and pay to the funds.”

Alireza Saleh continued by pointing to the interest rate of the loans by National Pension Fund: “Instability will increase given the fact that gap between the interest rate in the domestic and international market rises. Interest rate at the National Pension Fund is considered to be 3.5 percent in which share of the Fund is one percent and share of the bank 2.5 percent which is competitive relative to the foreign loans and credit.”

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