“Many banks hold only 2% of their shares in Eastern Azerbaijan.”
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“Many banks hold only 2% of their shares in Eastern Azerbaijan.”
Said Jaele Yunes the chairman of the Tabriz Trade Department.
“Despite the big potential of the Eastern Azerbaijan and wide opportunities for private investment province gets very little financial resources from central government” said the chairman.
He stated that 70% of the resources of the banks are used by Tehran.
Jaele also stressed that in 2022 Iranian officals restricted the creation of private banks in Eastern Azerbaijan claimin that it is not suitable for the “National Interests”.
The headman of the Industry, Mining and Trade organization of the Eastern Azerbaijan Sabir Parniyan also shared same thoughts about the issue.
He declared that private banks take away the deposits and savings of the people of the province and spend them in other provinces and he also mentioned that the role of these banks in the economy of East Azerbaijan is insignificant.
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