Zarinqalam asserted that in previous years the negative side effects of governmental banking operation have seriously been felt. The politicians now clearly understand that the present banking system is hardly able to see to the future objectives of the country. Zarinqalam is of the belief that non-banking institutions are smaller and more active. They also have the privilege of a better maneuverability. They can absorb more competent and qualified employees through paying higher wages and salaries.
Interest rates have a more fundamental part in the allocation of resources to economic projects.
Our present projects may bring about some results, but economically speaking they are not necessarily justifiable. What Zarinqalam says is completely different from what has been foreseen in the Third Economic Development Plan bill. In the said bill the sale of a part of government shares in the banks to the private sector has not been anticipated. The only provisions in the bill is the strengthening of the capital bases of the banks and the creation of private non-banking credit institutions, as well as the instructions for special administrative, employment and disciplinary regulations of the banking system within the framework of the banking charters. Since according to the Constitution, banks are nationalized in Iran, there is the possibility that the Majlis or the Council of Guardians may not consider the sale of a part of banks' shares to the private sector to be constitutional and the transfer would not take place in practice.