Bahaddin Hosseini Hashemi, an economist and senior monetary and banking expert, discussed the existing challenges in the banking system and the importance of setting appropriate interest rates in a detailed interview. He believes that interest rates should be adjusted so that deposited capital is directed towards high-yield projects and long-term investments.
The Role of Interest Rates in the Economy
Hosseini Hashemi, drawing on his experiences in the field of economics, stated that high interest rates can help reduce liquidity and prevent capital wastage. He explained that currently, many deposits in banks remain unused, and this situation can lead to serious weaknesses in the economy. With an increase in interest rates, individuals and companies are encouraged to invest in safer and more profitable ventures.
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The Necessity of Long-term Investments
This economist also pointed to the necessity of focusing on long-term investments and said: "Short-term investments are usually not beneficial for the economy and cannot guarantee sustainable growth. Special attention should be given to projects that can provide suitable returns in the long run." He mentioned the role of the government and economic institutions in facilitating this process and added that cooperation between the public and private sectors can lead to the creation of a suitable environment for such investments.
Hosseini Hashemi also emphasized that currently, banks need to seek innovative solutions to attract people's capital. He said: "The banking system should move towards offering more diverse and attractive services so that people are encouraged to keep their money in banks, allowing banks to direct these funds towards economic projects."
Challenges and Solutions
He also referred to the challenges present in the country's banking system and said: "One of the fundamental problems is the lack of trust among people towards banks. If people feel that they can trust banks and manage their capital in a safe and secure manner, they will naturally be inclined to deposit their money in banks."
Bahaddin Hosseini Hashemi concluded the interview by emphasizing the need for serious reforms in the banking system and added: "Without structural reforms, one cannot hope for a bright future for the economy. Practical and effective solutions must be devised to improve the economic and financial situation of the country."
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