“Ahmed Baharondi”, the CEO of the Entrepreneur Bank, said in the national meeting of the branch heads and staff managers of the Entrepreneur Bank, that the economy relies on the foreign exchange income from the sale of oil in the field of national resources, and it should not be like that. He considered the effects of embargo to reduce the country’s resources.
Referring to the first path of sanctions in Iran, he said: “The main reliance of the economy in the field of national resources is on foreign exchange earnings from the sale of oil, and the effects of sanctions reduce the country’s resources. “Since the country’s expenses have remained in place and probably grown in consecutive years, the figure of the budget deficit increases every year.”
According to the public relations report of the Bank of Entrepreneurs, Baharundi pointed to the international factors affecting Iran’s economic conditions and said: “Countries that feel that their share of the economic cake should not change, take their actions outside of the usual compliments in a harsher and more serious manner. .
Baharundi considered the economy of the East Asian region as the target of economic planning and said: “It seems that the rival country of the dollar area has not yet reached the point of release for tough action. But in the areas of proxies, they put aside compliments and took serious actions against each other.”
He also said about Iran’s economic conditions: “Iran has had an accident on this path and sanctions are actually souvenirs of this conflict for Iran’s economy.” This embargo hurts our economy in different ways.”
Budget conditions and its relationship with sanctions
Baharundi continued his explanation: “Another way that sanctions create is making the purchase of imported goods more expensive. In the past, if we used to buy more easily, now we have to buy harder, there are more middlemen, and on the other hand, due to the risk of cooperation with Iran, they offer higher prices, which ultimately leads to inflation, demand pressure, and an increase in consumer prices.”
This official of the Entrepreneur Bank pointed to another path leading to sanctions and said: “The meaning of foreign investment not happening in the country is that the demand of foreign currency holders for the Iranian Rial has decreased and while the Iranian Rial is growing within the borders of the country’s economy, the applicant It does not have a foreigner.
He believes that every foreign investor needs to convert part of his capital into Rials. When there is no demand for Rials, that means Rials are accumulated and this accumulation may overtake the growth rate of the country’s domestic production; Therefore, imbalanced internal accumulation with growth leads to inflation.
The CEO of the Entrepreneur Bank continued: “After the previous speech on the 23rd anniversary of the bank’s establishment in December of last year, professional measures have been taken in the bank, such as laying rails and creating a platform for the growth of the Entrepreneur Bank.”
Baharundi also mentioned some arbitrations regarding banking in Iran and said: “Banking in Iran is subject to arbitration and judgment for various reasons. Of course, sometimes there have been problems in the banking network, which we do not deny.”
According to him, in an economy where more than 90% of its funding comes from the money market and the banking network, the focus of policy makers, speakers and those who base the economic culture should be on the growth, growth and fixing the damage of the banking network.
Emphasizing that the Entrepreneur Bank continues to work strongly as one of the examples of successful private banking in Iran, Baharundi said: “Every time the criteria and characteristics of the Entrepreneur Bank are exposed to the eyes of policy makers and critics of the private banking system, I think Their words will have a stroke right there, and this is the pride of the entrepreneur bank.”