Cooperatives need a private bank of their own to access their 15% share of financial market facilities, as was planned in the Fifth Five-Year Economic Development Plan that ended in March, said the head of Iran Chamber of Cooperatives, Bahman Abdollahi. “We have been trying to get permission for launching the bank from the Central Bank of Iran,” he was quoted as saying by ICCnews.com on Monday. The Cooperatives Development Bank of Iran, a specialized state-owned institution, is the only bank offering service to the key sector.
