Bank Shahr, affiliated to municipalities across the country, is ready to provide finance for the smart development of cities, according to the bank’s chief executive, Hussein Muhammad Pourzarandi.
Speaking at the International Urban Economy Conference on Thursday, he said “we should concentrate more on the urban economy as cities account for two-thirds of non-oil domestic production, 30% of which is based in Tehran,”
He went on to say that “Currently 50 million Iranians are living in urban areas and studies show that 80% of the population would reside in urban areas within ten years.”
He also called for enhancing the banking sector along with value-based banking because the two have the potential to help expand and promote the economies of cities.
“Urban tourism, especially religious tourism, has the potential to enhance the urban economy,” Pourzarandi said, noting that the present tourism sector has a tiny share in developing city economies.
The one-day event was held at Bank Shahr’s head office in Tehran. The conferees shared views on the various aspects of Iran’s urban economy.
