The governor of the Central Bank of Iran stated that the stability which currently prevails in the Iranian market will be pursued via plausible behaviour of the government and enforcement of precise monetary discipline by the Central Bank so that the necessary provisions can be made for foreign investment in the country.
According to CBI public relations department, in his visit with a commercial-economic German delegation, Valiollah Seif added that the very establishment of a solid monetary and financial system is a vital pre-requisite for the presence of Iranian companies in global markets and that of their foreign counterparts in Iran. “The Central Bank and the whole economic team of the government have both focused on this priority”, he continued.
According to Dr. Seif, the main programs will incorporate serious attempts to increase the capital of private and public banks, raising of their capital adequacy ratio in accordance with international standards, and reduction of costs of financial services in the Iranian banking system in order to optimize production costs.
  Referring to long history of economic and banking cooperation between Iran and Germany, the CBI governor maintained that despite economic problems and fluctuations in some years, settlements between Iranian and German banks have been made with the least delay. “Such fluctuations could never harm appropriate banking relations”, he said.
Having announced the willingness of CBI to receive a delegation from German banking system, Dr. Seif expressed that the risk assessment of Iranian banks has revealed that they have attracted an acceptable level of confidence in their performance. The banking system, therefore, can serve as a suitable ground to operationalize the trade volume and help make settlements between the two countries.
In response to the enquiry of the German representatives concerning exchange rate fluctuations, the CBI governor emphasized that in the past two years the exchange rate witnessed 60% reduction in its fluctuations while in a single fiscal year, the equivalent rate of dollar against rial increased by only 3 percent. “That occurred when we had limited access to our foreign currency reserves due to unjustified sanctions”, he went on to say.
He also informed the determination of CBI to unify exchange rates in near future. “Evidence and experts’ reviews indicate that it is possible to move towards unification of exchange rates. This policy will be implemented in due time. This is a crucial measure which, of course, requires the establishment of sufficient international banking relations and the ability of the CBI to transfer foreign exchange resources”, he said.
The commercial-economic German delegation admitted that the explanations made by the governor were highly significant and promising. They also expressed hope that the economic sanctions would be lifted and they can demonstrate their presence in the Iranian market.