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Tue, 09 Feb 2010 | 18:02 GMT
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CBI Supports Cooperatives Bank

Iran Daily
 
 
12 May 2009
Governor of Central Bank of Iran (CBI)Central Bank of Iran (CBI)Loading... Mahmoud Bahmani has promised to supply the initial capital for the establishment of Cooperatives Development BankCooperatives Development BankLoading... as soon as possible.

Managing Director of Cooperatives Fund Mashallah Azimi told Mehr News Agency that the proposed bank would start operation this year.

"The Cooperatives Fund will give loans to cooperatives within a year till the bank is inaugurated," he added.

Azimi noted that the fund's branches are ready to convert into a bank.

Following the training of staff, establishing the infrastructure and promoting electronic facilities, Cooperatives Development BankCooperatives Development BankLoading... will be launched in the current year.

Azimi added that the Cabinet has ratified the bank's articles of association and presented it to the Guardians Council for approval.

© Iran Daily 2009

 
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