The issue that has been concerned the depositors in these institutions more than others. In fact, serious determination of the government has been formed to reduce and control the activities of financial and credit institutions for a while.

Since the beginning of the eleventh government, the integration of financial institutions and investment increase of these institutions to Central Bank has been proposed and some steps have been taken in this regard, but it seems that the government is trying to deal with these institutions more seriously in recent weeks. It is obvious that in special and particular condition of current economy, increasing control on financial and credit institutions can highly improve financial discipline. About 20% to 25% of liquidity of country possessed by these institutions but practically monetary and banking policies of country would not be come into force by them.

Controlling inflation is dependent on controlling liquidity rate in economic environment and freezing high amount of liquidity in economy in order to split hard core of inflation is not possible without observing financial discipline and transparency in the arena of banking, but the experiences showed that most of the financial and credit institutions do not care to policies of money and credit council because of some legal and structural shortcomings.

One of the examples of failure to implement these macro policies is the amount of interest payments to the investment deposit accounts which it has made the competitive atmosphere become harder for the banks. Therefore, according to the stagflation condition prevailing on the economy of the country, Central Bank should monitor the actions and decisions of financial and credit institutions for exact and comprehensive implementation of monetary and financial policies, but in the meantime, the important and worthy point is high accuracy and action delicacy confronting these institutions. In any case, on one hand today part of people has trusted to this monetary and financial network and they have deposited their capital to them, on the other hand, due to lack of some supervision these institutions have been expanded increasingly and many human powers have been hired to them.

Therefore, dealing with the financial institutions cannot be done with closed eyes, particularly this concern has been raised that some of them have been reached to the point of bankruptcy. So, encountering by security and law enforcement with them can totally destabilize social capital of banking network. The event that happened in some countries and it resulted in widespread distrust to banking network of those countries.

Hence, it seems in such conditions that at first, the government should increase its supervision dimension on these institutions and provides a condition that financial and credit institutions by integration and rising deposit, the trust to central bank maintains in monetary and financial network and on the other hand, they would be obliged to observe monetary and financial policies of Central Bank.

Finally, it must be emphasized that the issue of facing with unauthorized financial and credit institutions is a coin with two sides which it has both special positive effects and special harmful effects. It is important the government chooses which kind of policies confronting this sector of financial and credit network of country.

Source : Donyaye Eqtesad Newspaper

News Code : 3548        

date: June 18, 2015