Tehran, Iran, April 4
Trend:
The co-founder of Iran's Saman Bank Allahverdi Salmasi has said that the Central Bank of Iran is responsible for controlling the inflation in the country and preserving the money value.
"If the CBI isn't doing its job, the inflation and liquidity would rise in the country," he told Trend in an interview.
He then spoke about the CBI's policy in the past Iranian year (started March 21, 2018).
"The international bank relations faced problems during the term of former CBI governor Valiollah Seif, and also there were issues with money transfers between Iranian and foreign banks," said Salmasi.
"Fortunately, with the new CBI governor, things have changed, there were some negotiations held with exports regarding the return of foreign currency from exports to the country's economic circle," he said.
On the other hand, according to Salmasi, the foreign exchange rate increased with the coming of new CBI governor Abdolnasser Hemmati, yet the rates were more under control.
"Another successful policy regarding foreign exchange was the idea to confront illegal foreign currency dealers," he said.
He noted that the CBI should not ignore its responsibilities.
"The Central Bank of Iran has plans to monitor local banks and if the banks allow for their imbalances to be identified and dealt with, this would bring positive effect in the future," noted Salmasi.
"The banks should be obligated to increase their capital and resolve their imbalances," he said.
He also spoke about the CBI's outlook in the new Iranian year (started March 21, 2019).
"The CBI's situation depends on the foreign exchange resources management, as well as imports and exports. On the other hand, if money transfers between Iranian and foreign banks eases and liquidity and inflation are kept under control, then we will witness some improvements."