Minister calls for urgent banking overhaul as 150 projects roll out
Iran’s Economy Minister Ali Madanizadeh emphasized the urgent need to reform the banking system as a cornerstone of broader economic restructuring, revealing that more than 150 economic projects have been developed and launched since he assumed office in mid-June.
Speaking on Monday, Madanizadeh said that shortly after taking office, his ministry assembled large teams of experts to review economic achievements and challenges over the past 12 years across key sectors including banking, budgeting, production, pensions, energy, and others. Many of the resulting analyses and proposals were already prepared but required conversion into actionable plans, he said, IRNA reported.
“The outcome of this work has been the transformation of these studies into over 150 executable projects assigned to more than 20 deputy offices and specialized centers under the Ministry of Economy — a super-ministry in practice, not counting banks, insurance firms, and affiliated companies,” he said.
According to Madanizadeh, the projects have been clearly categorized by sector, ranging from reforming the banking system and capital markets to production growth initiatives, investment enhancement, privatization restructuring, reevaluation of free trade zones, and advancement of the digital economy.
“If we neglect the digital economy, we will lose a golden opportunity,” he added.
Among these initiatives, six “mega-projects” have been singled out for immediate implementation under the minister’s direct authority. “Not all economic issues fall solely under the Ministry of Economy,” he noted. “Macroeconomic matters require consensus within the government’s economic team, the cabinet, and sometimes coordination with other branches of power. But these six projects are ones for which I am personally accountable.”