Refreshing plans of Bank Saderat, a suitable alternative to foreign currency credits

According to Eqtesadonline, Amir Yousefian, at the International Conference on Trade, Investment and Joint Economic Cooperation between Iran and China, mentioned Iran’s economic potential for trade with China and added: “The volume of Iran’s trade relations with China in the first six months This year it was $ 4 billion, which shows a decrease of 5% compared to the same period last year. This is not a significant figure compared to China’s $ 3.3 trillion trade balance with the rest of the world. At the same time, it is a small number compared to China’s trade balance with those countries in the region that have far weaker economic conditions and capacities than Iran.

He said at the conference, which was attended by government officials, managers of private companies and export activists, experts and thinkers: “These figures show that the full capacity of Iran and joint cooperation with China has not been used, but the conditions and capabilities for Development of cooperation and presence in export markets continues.

Emphasizing that sanctions have been one of the main obstacles to increasing Iran’s trade relations with China, the Vice Chairman of the Board of Directors of Bank Saderat Iran added: “In the past, the banking system financed various economic units, especially production units and large projects, through usance, refinancing and financing.” And Bank Saderat Iran has also implemented several projects in the framework of this model, which is the largest aluminum production complex in the country, including these projects.

Yousefian stressed: “Inflation and sanctions at the same time have caused the costs of various economic and production complexes to increase sharply. Also, the aggravation of this situation has led to the elimination of credit sales and credit sales from the market and most exchanges are done in cash.” It has reduced production, reduced exports and reduced business operations. What Bank Saderat Iran succeeded in doing in this regard was to replace the domestic Rial documentary credit with usance, refinancing and finance foreign currency credits to allow producers and exporters to purchase one-year raw material loans and the seller of raw materials after From the delivery of goods, it is possible to immediately discount these documentary credits in the branches of Bank Saderat Iran. The use of these letters of credit, like foreign letters of credit, will cost the applicant a maximum of 4% to 3% of the cost of the fee, while the risk of fluctuations in foreign exchange facilities will be eliminated in this method.

Yousefian, stating that this plan of Bank Saderat Iran has been highly regarded and welcomed by various economic sectors, announced the issuance of 4,000 billion Tomans in Rial documentary credits in the form of the refreshing plan of Bank Saderat Iran in the first eight months of this year.

He added: “In addition to the freshness of working capital, Bank Saderat Iran this year has presented the” Freshness of Development “plan for the purchase of machinery in the country and the development of production lines with 3-month Rial documentary credits, which can also be used for 4-month installments.” has it.

The Vice Chairman of the Board of Directors of Bank Saderat Iran, noting that the bank has financed two petrochemical complexes with the “Refreshment of Development” project, added: “In these circumstances, in addition to helping to continue production in production complexes, Bank Saderat Iran has been able to adjust production costs.” And we hope to be able to get through this difficult period by using this capacity and helping economic units.