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2017 Nov 24

Payment of 6 thousand billion Rials facilities to cooperatives within the current year/ Capital increase in near future

Mohammadali Sahmani the Managing Director of Tose`e Ta`avon Bank said: Tose`e Ta`avon Bank is among the 5 development banks of country which allocates its services to cooperative sector.

He also added: during the current year more than 6 thousand billion Rials facilities have been paid to Cooperatives with emphasis on agriculture and industry and mine sectors.

He also mentioned: one of the requirements for development of banking services is to increase the capital of banks. He hoped that in near future the capital of bank would increase from 5 thousand billion Rials to 8 thousand billion Rials.

Sahmani also added: the share of cooperative sector out of the economy is now about 4 or 5 percent and to reach the expected share there is a long path ahead of us.