Need for Banks to Support Entrepreneurship

A lawmaker called for the establishment of specialized banks tasked with facilitating entrepreneurial development. The banking sector has long been grappling under President Hassan Rouhani with a discretionary system for granting loans, largely a legacy of the previous administration that piled a backlog of non-performing loans. “One of the Southeast Asian countries has an impressive record in creating jobs and boosting lucrative enterprises. In the long term, these small enterprises were combined into major ones and this achievement was made possible by banks that provided special backing to entrepreneurs,” Gholamali Jafarzadeh also told ICANA on Sunday, without naming the Asian country.