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of god. hello dear compatriots. ladies and gentlemen, welcome to the first row. last week, in the last days of last week , the production and infrastructure financing law, which was approved last year, was promulgated. this law is one of the moves of the executive forces to help start the production wheel in the country. it started in the past and now my help is coming to fruition. in fact, it has now reached the legislative stage and we can expect to

see his works and blessings in production in this year, 1403. rouhani is the honorable deputy for economic policy of the ministry of economic affairs and finance . i say hello again, mr. rouhani, and welcome. dear governor and viewers , we are at your service. be healthy, mr. rouhani. first , when we say financing, this term is a term. it doesn't need much definition because basically everyone people, whether they are consumers or producers , they say completely about it, in short, they have a need for what is needed in almost all acquisitions, whether

for the company or for the home and consumers , in fact, there is usually deprivation and they cannot meet their needs, the category of financing. it means, in fact, the resources we need to be able to buy a product now , start a production line, or for example, let's say capital. make an investment. this is actually the concept of financing, and it has many methods and tools. it is not a more technical language, but it is simple, that is, in fact the more technical or specialized concept of financing and simple language for people to say this is what you said, well , it is true that every family is involved in financing , but the family usually does this through working and looking for

financial resources. and making money in simple language, but well , there are other tools that families are involved in, such as taking loans, borrowing in any way and other methods, which, of course, in the financial management of companies and devices, the meaning of this financing is a little wider, as well as you also mentioned that it has various tools, including the sale of bonds including papers. bahadar is islamic , in any case, the different methods of attracting public participation are usually debt-based methods or capital-based methods and issuing shares, which now , when we are talking about a law , the production and infrastructure financing law. what is the necessity of this law, except until now the devices and companies have a problem for financing. let me

tell you a little bit about the historical history of this law, almost from the beginning of the current government, at the end of which is the current parliament, which we are at the end of. in fact, a number of representatives especially, in particular, in the production jump commission, there is a concern of removing obstacles to financing in various areas, whether in the area of ​​the capital market, discussing tax incentives and foreign investment in various sectors, or even the institution of disposing of financial institutions, for example, let's assume the issue of accreditation or guarantee funds , which i will now explain each one of them one by one, these scattered concerns , scattered issues were raised from the beginning , meetings were held in the commission with the custodial apparatus, this actually gradually led to a law, which is a set of the rules included for fixing

obstacles to providing different types of financing we had a set of obstacles in the capital market . in the area of ​​the process of capital increase of companies , we had a series of taxes that interfered with the functioning of some capital market institutions or , for example, we had a series of institutions removed in the field of foreign investment, so that agencies or brokerages can actually express and, for example, introduce opportunities. now i will explain each of them in the field of foreign investment , government financing, bank and fund participation. national channel in development the infrastructures inside the country, well, these were different parts that were put together, and the set of problems that we have in the field of financing in our financing system can now be solved with this law. this is actually a partial look at

the law, i said, investment. foreign banking , capital market, an institutional view is opened to the law , which is actually one of the initiatives of the law. it is that he is doing a number of institution building for the field of financing the country , in particular, he is legalizing the credit assessment institution for the first time. well, before this, we are based on we had a board of ministers for the accreditation company , and of course, the capital market that we had was the banking network. you can provide information , so far there was no legal obligation in this field, a serious legal infrastructure is happening in the field of validation of institutions and institutions , we have a guarantee that it was one of the serious problems of our financial system, banks, which are an institution.

they are the main source of financing in the country's economy, usually they accept specific drivers, so-called sahl al-bai, to provide facilities, however, many idea owners and entrepreneurs basically do not have access to this, in fact , they don't have easy real estate documents that are considered by the bank , but creative ideas can become entrepreneurs. whether this idea is the right idea, whether it can result in profitability or not, then they can have assets other than what the bank is considering and which are public assets. they can accept these as collateral and issue guarantees that the bank will accept those guarantees . the economy and the banks should be able to translate the language of these two into each other. well

, it is being created in this law, and there is another issue that the law has a very serious arrangement on , which is the issue of the verification and guarantee institution, which, well, there are a lot of issues. it had limited assets as collateral, now it can be given or accepted by the bailable entity, this development of the domain of documents , we had different types of assets that can be pledged, according to the existing law or the discussion of the release of documents, now we can see each of these reports, prepare and let's go back to your explanation. this is one of 6 thousand this is a factory that was reopened in the 13th government . its problems must be solved. one is a management problem. the second is a liquidity problem. there are factories that may have different reasons for closing down, but one reason

is always raised as an obstacle to production. the liquidity problem is really bothering us. and it is taking the power of production from us. one of our biggest problems is financing. i know many producers who broke down due to financial problems and working capital. in order to improve the problem of financing the factories, the parliament approved a law last year, which is now promulgated for the implementation of the production and infrastructure financing law the production and infrastructure financing law is a set of very useful rules to facilitate financing, whether through bank financing or the capital market , financing from foreign investment and financing related to the country's infrastructure, now after about 10 years with this law. the possibility of direct investment by banks in infrastructure projects

is provided in this law, while considering that banks should not be allowed to invest in infrastructure, they actually invest and hand over to the banks. also, this law sets the conditions for receiving bank loans facilitation of bank documents has become easier. guarantee institutions are specialized institutions that are formed according to this law . a variety of assets can be received as collateral to guarantee the receiver's security and by criminalizing the requirement to implement the validation system, the judicial branch of the subordinate institutions, in fact, the executive branch of the customs tax, banks, all of these are obliged to provide information about the need for a credit database is that the credit database is also in the central bank. it will be established that any of the suppliers will be included if they actually refuse their duties

the set of punishments is the punishment of 6th grade imprisonment . other issues are issues that can direct the country's liquidity of more than 7,000,000 billion tomans more towards production. mr. rouhani's economic and financial affairs, we are talking about the financing law . in short, i will tell you the name of one of the cases that you said was seen in this law, the development of the validation system, which means what is going to happen in the form of a sample. look in order to reduce the risks of financial interactions between all

people, we are basically independent of the banking network, independent of the person who wants to receive education. both people who do a transaction with each other care about how trustworthy the other party is, and if i have one, we are an asset. i will sell it to him and am i supposed to receive the value of the property in three installments? in the second and third installments , he will default , is he dishonest or not? his previous financial records have shown that he is a good person. darren, well, we have a detailed history of financial interactions of all people, each of us has probably taken a loan from the bank and we are paying installments, or finally a car deal, i don't know, we traded a motorcycle, an asset

, or household appliances in the form of we bought an installment from a company or from the other side, i don't know, for example , we have a risky behavior in our driving, or maybe we have financial legal problems, god forbid , we have bounced checks, and these all become financial records of people, and these financial records can be a rating. financial a financial report about me personally it should be extracted that the financial report can be placed in the hands of any person who wants to enter into a transaction with me. if i am a tenant, my landlord would like to rent his house to someone who is willing to pay the rent, or if i am a tenant, i would like to i want to rent a house from a landlord who will deliver it to me on time when i want to get the deposit back . therefore, every transaction that people have with each other , every interaction. money that people have together like to know their other side. validation

provides this capacity for all people who can deal with the parties. they can check their credit status, their financial credit, and understand what it actually ranks financially, and then choose whether to enter into a transaction with them or not. that is, for example , in one case, it is said that this person, sir, is the one who can do it. he will pledge it and you can trust him, exactly, exactly, the owner of the transaction, for example, or you can't pay him and he won't pay , the history of this person's financial behavior shows this. the development of the accreditation institution or the accreditation system that has been seen according to this law is really useful to the ordinary people in the streets to the extent that you say that it will come. i presented these examples precisely so that we don't think that validation is just a concept that is useful for getting an education from the bank. basically , it is not like that. one of its uses is that if i went to

the bank, i applied for an education. he tells me to go get validated and then i will decide for you. but this is one of the uses, which of course, if it was my only use, it would be a very big story and it could help all these arrears that we have now, we are not saying that all of them will be reduced to zero, but it will be much less. we had, well, now there are a number of banks that have their own validation companies, each bank says to give a series of documents from that company, for example, the credit rating, the fact is that we do not use all the data available in the country at the government level. we should do it for validation and this has caused us to say that at the moment, until a few months ago, up to a maximum of 30% of people who had a history of receiving facilities could only be validated, people who have just entered the economic space and

have not previously received education, basically. they don't have any credit rating either this law provides the capacity to use all the financial history of the entire country for credit by first creating a duty for all data generating devices to share this data with the credit database. evaluation of people and on the other hand, it actually regulates the legal process of establishing a validation company, monitoring the process of validation companies, possibly canceling and revoking their license and dissolving them. the legal process related to validation companies is also regulated according to the law at the level of the law, not at the level this regulation is probably one of the things that the law provides for the requirement of devices that have information, and until now this information was only with them, it is not shared, and now they probably have to provide it

according to this law. in the name of the institutions of the judicial branch of the registration organization. they should actually share their data and if they don't do this , they will be subject to a series of punishments, which means that it is a summary from my side. well, this has a very big technical introduction. is it technical and software available or not ? one 2 years, 3 years, 5 years, sometimes until they are aligned. you see, the technical infrastructure more or less exists now, i will tell you that it was not based on the law, that is, it did not have a strong legal basis , the credit database was created in the central bank , and this law confirmed the continuation of the same path as the credit database in the bank. a center should be established, but the data that is being established there is not only bank data

. insurance companies are. i said that individuals can use the results of these validations . on the other hand, the law says that the accreditation companies, the granting of their license, the supervision of this company , and the discussion of the process of cancellation and liquidation, and all of these come to the ministry of economic affairs and finance. in fact, the ministry of economy is in charge of creation, supervision and finally. the halal of these validation companies, the regulation of the validation company comes under the ministry of economy, the companies will be private , validation companies are generally everywhere in the world , they do not have a single shareholder, a group of people who either companies or institutions that use this data or produce this data

become shareholders of a validation company. now we have a validation company. which is owned by a group of banks and insurance companies, but we can have many other validating companies that basically may not even use bank data for validating, even if we want to use the data of phone calls for example. along with people , there are companies in some countries that rank people. well, for example, this is this your contact information shows what groups you interact with, so i want to tell you that our mind is not only about the financial space , the credit category is very broad. sanji, well, then there will be no privacy issue, ah, on that side, in fact, the issue of the security of this information

has been seen to be very serious. it has been seen in the law, and the establishment of the credit database in the central bank also has security. it is providing the information that this whole process can be done within the framework of the law known as the law of continuous data management and national information, within the framework of that law, all this sharing of information and the use of this data can be done . now, one of the issues of this clause, yes, it is a clause, now the timing is specific or a month has been set for it, which, of course

, is a lot of work for the chamberlain, because more than 30 bylaws and instructions must be written and approved by the council. the national financing council is also composed of: the minister of economy as the chairman of the council, the chairman of the central bank, the chairman of the organization. the program of the minister of industry, civilization and trade, the head of the stock exchange organization, the head of the central insurance and the head of the national development fund. these people have to sit together and actually compile and approve more than 30 recipes and regulations within 3 months, which is a bit of a difficult task , but naturally, they have to prioritize the regulations and the different hands of the law, god willing. we provide let's bring this law as the implementation secretariat and approve it in the council. well, it means that the law does not provide for this, which has not been discussed. 3

the month is very early and there is very little left. the task that the legislator has left is this. now , let's move on to the next topic of the discussion about the deeds in the law. what happened to the deeds? again, one of those areas that really need a first glance is the collateral of the assets. the assets that can be collateralized by banks or our collateral institutions , the assets that are accepted as collateral are very limited, mainly real estate collateral is accepted as collateral, if we have a very serious variety of types. assets or income streams that can be pledged, and many countries have them collateral can be one of the innovations of the law is precisely the expansion of the scope of documents, that is, property and in fact

different income streams can be presented as collateral. take it from your brand and the brand name to assume employee end of service bonuses, continuous income streams , for example, assume continuous benefits, subsidies , shares, various types of assets that come to your mind in summary are mentioned in the law, which can be used as collateral in let it be the most realistic there is one phase, the next phase is that, well , we also have another one, and that is if i took a loan 10 years ago, for example, for housing, with a repayment period of, for example, 12 years , and at that time, for example, suppose the price of the property

was 150 million tomans. i got a loan of 50 million tomans, the whole property is in the bank's mortgage until i pay off my entire loan, this law is creating this capacity, in fact , it assigns obligations to collateralized institutions, that is, banks, mainly , which are proportionate to the payment of the liberalization installments. do the bail, it means that a share and percentage of the price of that property will remain, and the rest is free, that is, if it is worth it, then it can be deeded again. exactly, if the value of that property has increased after 5 years, for example, three times in the same ratio, in fact, the bank should reduce the share in the bank's mortgage. the rest will be freed so that i can leave it somewhere else, and this plan is not only in interaction with the bank . look, i want to say again that our mind

is not only towards the bank. many of our transactions are now selling installments. for example, we have leasing companies that do partial sales. we even have other companies that, for example, have stores that are actually home appliance stores they do this. and this is often how they receive a check. if it is possible to receive other types of collateral as collateral instead of the check, which is actually the payment instrument, not the guarantee instrument. the same things i mentioned. therefore, this work that is being done for the field of documents greatly facilitates all transactions in the economy and can fully develop the method of partial sales in the entire economy, both in the industry and in fact in manufacturing enterprises, in the household and household consumption needs. i would like to say that we have already

had a factor in the discussion of legal documents, which is implementation. where did it go now, was it implemented? no, it means that the banks are finally entering into it or not. you have mentioned a good topic, one of the items that can be secured, of course, we have to explain what factoring is. you said that means that if i as a contractor. in fact, i signed a contract with an employer, that employer can even be in the private sector, it doesn't have to be the government, and i am going to deliver a project, and at the end of the project delivery , assume that the value of the project will be fully received. at the beginning of the project, i need financing . i will receive the money at the end one year later . now i want financing to actually equip the workshop or buy other machines. i can meet these

demands. that i have from my employer to use this as a financing tool according to the contract i signed with him, which is called factoring, a third party financial institution comes and discounts this contract from me and says that you are going to receive this money one year later from my employer, i am ready to pay you 60, 70, 90% of the contract value. the income of this i will buy the contract from you. this is the summary of the story . it means that the rest will be his profit. yes, now depending on the rate at which he wants to discount it, i am definitely ready to finance it now with a discount rate so that i can actually do it without having to go to school. if i want to get a bank or i want to issue bonds somewhere, this means entering into other funding methods. in simple words, if i

have a project or a contract. we have plans to do it in 3 years and i will receive 3 billion from you. as an employer, let me know that the company will become an institution. in the middle he says that i will buy this contract from you for half a billion and i will give it to you now, but you have to arrange another 3 billion for me, but i will own the money now instead of receiving my money in 3 years, i will own the money now and i can do this. face. capitalize my work exactly and i don't know if i am waiting for the process of receiving bank facilities or issuing bonds in the capital market. well, this is a very important tool in the law . the financial institution that wants to do this factoring naturally he is aware of these guarantees, and we can go into it right here . validation is also used. validation is also

another institutional innovation in the law. there is the issue of guarantee institutions, so to speak , which i will explain later, but in short, i want to sum up factoring. since last year , we compiled the guidelines, regulations and even the draft contracts in the ministry of economy . a set of disagreements between the ministry of economy , the central bank and the program organization as the government pillar of the projects were sent to the money and credit council. there was an end that was finally resolved last year's recipe. finally, it was supposed to be executed, but it has been delayed a bit . a number of

thought contracts