• 1 September 2018 - 11:28
  • News Code: 90670
همتی همایش بانکداری اسلامی

Central Bank of Iran's Governor stressed that there is no decree to rise interest rate to 23 percent, adding the bank doesn't interfere in market's foreign exchange rate, but controls it.

According to IBENA, in the opening ceremony of two-day Islamic Banking Annual Conference which has been launched since today in Tehran, Abdol Naser Hemmati made the remarks that the event that occurred to foreign exchange market is the result of banking system imbalance, liquidity growth and persisting in liquidity growth continuation.

He went on to say that since the situation is in place, the problem continues, moreover, the trend with monetary policies non-plan has led to predicaments.
Elsewhere the official said that Iran is one of the countries committed to eliminating usury, expressing his hope that by improving Islamic baking operations law to implement the Islamic banking better.

" 97 percent of foreign exchange trades are being done in secondary market and 3 percent of them done in foreign exchange shops", Hemmati said.

He touched upon the foreign exchange rate, highlighting the central bank doesn't interfere in market's foreign exchange rate, but controls it. Elsewhere the governor said there is no decree to increase interest rate to 23 percent.

Hemmati referred to controlling inflation and money market, clarifying that based on traditional and previous approaches we can't control them, adding central banks in the world use various instruments to control money market such as ZIPO.

It is worth mentioning that IBENA is an only specialized news agency in banking and economy area, which is affiliated with the Central Bank of Iran.

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