Mining Bank Proposed

The head of Iran Mining House announced that the proposal for establishing a bank dedicated to the mining sector with a capital requirement of 6 trillion rials ($160 million) will be sent to the Central Bank of Iran. “We sent a letter to CBI three and a half years ago, proposing to establish a specialized bank for mining but there was no outcome so a new letter is being drafted to be presented to the CBI chief,” Mohammad Reza Bahraman was also quoted as saying by ISNA. He noted that the private sector is ready to launch the bank and provide the capital requirement as soon as the Money and Credit Council approves it and the necessary licenses are issued.