Debt Market: a practical way out
“A growth rate of 8% is the goal of Iran to be realised within the next six years. This means an annual investment of €175billion”, reckons Dr. Ali Tayyebnia, Economic Minister of Iran, at the opening of the “5th Annual Conference on E-Banking and Payment Systems”.
With a banking-oriented economy of Iran and its current financing difficulties, a new solution is urgently needed.
The Economic Minister gives the latest records of the Government debt: €95billion – leaving out €40billion debt of Iran Oil Company- about half of it is banks recourses.
Dr. Tayyebnia seems to be convinced that “Debt Market” with a guaranteed yield, could be a right solution for the country.
International Trade Requires International Standards
However in many countries it might be understood that the beneficiaries of a service must pay the commission, it is yet to be established in Iranian banking system.
Dr. Valiolah Seif, Head of CB of Iran, in his speech at the 5th Annual Conference on E-Banking and Payment Systems, notes that Iranian banking system, despite its considerable advancements, needs serious reforms on its infrastructure.
Right use of IT in the banking system is introducing new solutions such as Cash Management, Cash Recycling, Automated Teller Safes, etc.
“Costumer’s needs must indicate how banks should develop their IT solutions and not the other way round. This is the model our banks are missing”, comments the head of CB of Iran.
Italian Furniture in Tehran
This week, an Italian delegation mainly from Friuli Venezia Giulia, led by Debora Serracchiani, the president of the region, held a four-day business fair in Tehran.
Sixty Italian companies, mostly from furniture sector, presented their products in thirty stands.
Iranian furniture industry has been very much developed over the past years. Few weeks ago, “International fair of Office Furniture” held in Tehran, had no foreign participant.
Long-term isolation forced Iranian manufacturers to improve their products. Today their high quality and competitive prices could challenge imported products, at least in some sectors, like “Office Furniture”.
Iran import of furniture from Italy in 2013 was 60% less than in 2009, according to Iran Custom Office Reports.
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