Stage Set for Expanding SCFs

The Industry Ministry and the Central Bank of Iran are stepping up efforts to expand the supply chain finance (SCF) program. 
CBI Governor Ali Salehabadi, Minister of Industry Reza Fatemi-Amin and CEOs of some banks in a meeting on Saturday discussed how best to implement the CBI-initiated SCF program. 
SCF methodologies work by automating transactions and tracking invoice approval and settlement processes, from initiation to completion. Under the system, buyers agree to approve their supplier invoices for financing by a bank or other outside financier.