New CBI governor outlines long-term priorities

October 8, 2021 - 12:56

TEHRAN – The new Governor of the Central Bank of Iran Ali Saleh-Abadi who was appointed to the position on Wednesday has underlined controlling inflation, stabilizing the forex market, and monitoring the banking network as priorities of the bank during his tenure.

“The most important priority of the Central Bank is to control inflation, and with the help of the government's economic team, which includes the Ministry of Finance and Economic Affairs, the Ministry of Industry, Mining and Trade and other ministries, we try to stabilize various markets in the coming months,” Saleh-Abadi stated.

“Stability in the forex market is also one of the priorities that will be pursued and the necessary mechanisms have been devised to have balance in the foreign currency exchange market,” the official stated.

According to Saleh-Abadi, directing the resources of the banking system to the productive and knowledge-based sectors is also among the priorities of the central bank.

“We intend to direct the resources of the banking system to the productive and knowledge-based sectors and other areas that play a productive role in the national economy to help calm the country's economic environment,” he said.

He said that in defining foreign exchange policies, CBI will seek to develop non-oil exports, adding: "In a situation where the country needs non-oil exports, this is our priority and we will pursue policies to encourage non-oil exports."

Regarding interaction with trade partners, the new governor of the CBI said: "We will also pursue cooperation in the field of foreign currency exchange in order to include our trade partners’ currencies in the country's trade cycle.”

Currently, there is a positive atmosphere in the country, and the situation will improve with the mechanisms devised by the government, Saleh-Abadi added.


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