Mahmoud Bahmani: Banks will not Change the Interest Rates

Dr Mahmoud Bahmani, current Governor of the Central Bank of Iran

Dr. Mahmoud Bahmani, current Governor of the Central Bank of Iran, announced Iranian banks don’t have any plan to change and decrease the interest rates so the bank rate will remain unchanged for now.

“We have to monitor the market first and see what happens for inflation rate. Then we can decide if we are able to decrease banks’ interest rates. Inflation rate has direct effect on interest rates.” Said Mahmoud Bahmani, the executive manager of CBI.

Recently Mahmoud Ahmadinejad, President of Islamic Republic of Iran, criticized the false policies of the Central Bank of Iran about high interest rates. Ahmadinejad believes private and governmental banks must decrease their offered interests. Ahmadinejad said the high rates of interest are same as Reba which is forbidden by Islamic rules.

“The average bank’s interest rate are usually calculated base on inflation rate. According to the current economic conditions, I think these interest rates are acceptable and there is no need to change them.” Said Hosseini Hashemi, the former CEO of Bank Saderat Iran.

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