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Iran's Supreme Economic Coordination Council to discuss plan on economic breakthrough

Finance Materials 10 August 2020 19:18 (UTC +04:00)
Iran's Supreme Economic Coordination Council to discuss plan on economic breakthrough

TEHRAN, Iran, Aug. 10

Trend:

The governor of Central Bank of Iran (CBI) announced the issue of economic breakthrough will be discussed during the meeting of the Supreme Economic Coordination Council on Aug. 10.

"Despite the fluctuations over the past two years, the banks have performed their duties consistently, and according to reports, key performance indicators of the banking system are improving," Abdul-Nasser Hemmati said, Trend reports citing ILNA.

Emphasizing the importance of combating money laundering, Hemmati noted the importance of preventing violations by banks.

"The banks are expected to have more control over their branches and to follow the Monetary and Credit Council's instructions more seriously," he said.

Hemmati stressed that the main objective of the government's economic breakthrough plan is to manage liquidity and financing in the markets.

Last week, Iranian President Hassan Rouhani promised to announce the plan on economic breakthrough, which gave ways to the speculations that Iran is ready to approve anti-money laundering laws mandated by the international community.

However, another idea has been put forward; it is proposed to selling oil bonds to people to pocket their savings in hard currencies with a promise to pay them back later with a profit.

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