Rouhani Wants Iran’s Banks Selling 4400 Billion Tomans
Rouhani wants Iran’s banks to sell 4400 billion tomans of their assets. His Minister of Economy has reported the ‘job done’ after selling surpluses.
President of Iran, Hassan Rouhani’s call yesterday on banks was to avoid rising government costs. Massoud Karbasiyan told Tasnim state-run daily “We are appointed, at the Ministry of Economy, to stand against corruption and reinforce financial discipline at the executive branch. This is our deal with the leadership, the president and the people. Since the beginning of the week, all the ministry’s organizations and headquarters have been moving in this direction.”
With this being said, but gold coin prices are trading at 65 thousand tomans a piece. The new Bahar Azadi Gold Coins that have replaced old ones feature an interesting geometric design and mosque. Since 1989, when they switched from the Pahlavi coins.
Also interesting to know is that Iran is trying to get approval in Majlis to follow by cryptocurrencies. It believes this could be a way out of smashing sanctions.
The state-run Mizan news agency reported Mohammad Reza Pour-Ebrahimi, chairman of the parliamentary Economic Commission, taking the matter to parliament.
Pour-Ebrahimi believes the digital currencies would remove the hegemony of the dollar in international trade. “A lot of countries like Russia, China, and Brazil are using mutual or multi-national money treaties today which facilitate their trade transactions.”
The bright side doesn’t seem to be up for Iran any longer and the people are protesting to get their fair share. Officials are no longer able to fix years of mismanagement and corruption. Though the bigger matter at stake for Iran is the US sanctions.