Al-Ishaq Urges Iranian Banks to Resolve Issues with Private Sector

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Written By Saeed Maleki

Head of Tehran Chamber of Commerce, Industries and Mines Yahya Al-Isha, censured the existent of issues between local banks and private sector. He explained the behavior of banking system against economic activists “intolerable”.

“Actually there is a large number of issues between Iran traders and current banking system which are severely hurting our economy and business. Of course Iranian banks and financial institutions will face with more problems in future if they continue their intolerable behaviors.” Yahya Al-Ishaq remarked during a meeting with tradesman in Tehran.

“I hope they resolve the current issues. Addressing these obstacles and problems can be defined as a great transition in Iran’s economy. These problems are affecting our economy in negative forms.” Yahya Al-Ishaq added.

Western sanctions against Iran’s economy have left local bank with restricted financial resources and Iran’s banking system cannot respond to the requests made by traders properly. Yahya Al-Ishaq also accused Iranian banks of scamming businessmen. “We have other problems in foreign currency fields. Several banks refuse to pay currencies to tradesman despite they have fully charged their customers two months ago.”

The United States and European Union have set fatal sanctions against Iran to stop the country from developing nuclear weapons, a claim which Iran denies. Accordingly Iran is going to use nuclear power for civil purposes but United States doesn’t accept the claims made by Iranian officials.