Receiving compounded profits from banks is an obstacle to a boom in production
The problems of receiving compound profits from producers and the reasons for the closure of some industries were discussed in a special news talk show.
According to the Iran International Stone Exhibition, the follow-up of the issue of banks' compound profits and the reasons for the closure of industries were examined in a special news talk show.
Arman Khaleghi, a member of the board of directors of the House of Mining Industry and Commerce, pointed out that we have annoying laws in the production sector: "We are moving within the framework of the law. We resolve many issues through compromise and the presence of elders.
He added: "The duty of the judiciary is to eliminate hostility. When the producer is unable to pay the court fees, arrangements should be made for him."
The basis for calculating profits in contracts is based on the formula of the Central Bank
Ali Asghar Hedayati, Chairman of the North Khorasan Banks Coordination Commission, in another part of the program, pointed out that we have 293 production units in the industrial towns of North Khorasan Province, 3% of which were owned by banks in 2012 and 2013, and the reason is inactive The existence of these units means that they had no activity at all.
He specified: The basis for calculating profits in contracts is based on the formula of the Central Bank, which has been provided to banks. In North Khorasan province, out of 14 cases, 5 cases have been returned to the owners and producers. There are no conditions for compound interest in North Khorasan province, so there is no compound interest in our province.
Some rules overlap
Continuing the program, Mohammad Bahreinian, a craftsman and development researcher, pointed out that the laws overlap so much that they are problematic: "Now, interest rates may not be compound. A circular was issued in 2007 by the Central Bank under No. 1521 to As the formula is considered, so the main reference of the numbers is the Central Bank of Iran. We are in an economic war and sanctions.
He continued: "Statistics have been published by the Central Bank called the facility balance or the amount of change in the facility balance." The embargo has been in place since 1985. The share of facilities in the industry and mining sector in 2005 was equal to 31.6 percent of the total balance of facilities, when the embargo began it reached 28.6 percent and 1997 is the last year that we have statistics, so The share of industry and mining sector has reached 16.2%.
Bahraini added: "Industrial production in Iran has been beheaded. Does this system support production?"
Banks calculate profits based on the existing formula
Mohammad Reza Jamshidi, Secretary General of the Association of Private Banks, continued the program by pointing out that banks calculate profit based on the existing formula: "The Central Bank has announced different rates in different years and now the rate is 18%, so we only follow the bank formula." We act centrally.
Jamshidi added: "Banks have been notified two or three times to make the contracts available to customers, so this issue has been notified to all private banks by the Association of Private Banks and is being finalized."
"There should be a demand, so that the demand has doubled due to rising prices, but the banks are moving with a cane," he said, noting that banks provide facilities at the request of customers.
