Iran to upgrade banking sector to meet electronic age
The governor of Iran's Export Promotion Bank, Norouz Kahzadi, stressed the importance of Iran keeping up to pace in today's electronically oriented global market. He spoke in the sixth seminar of Expansion of Iran's Non-Oil Commodities' Export on August 12th, placing special emphasis on to the banking and trading sectors.
Kahzadi estimated that the value of electronic trade around the world would surge by more than 700 percent, from $140 billion in 2000 to $1,000 billion in the next several years. He added that the number of electronic trade subscribers presently stands at 30 million, though the figure is expected to rise to 800 million by the year 2005.
He spoke of the country's traditional banking system and commercial sector that are in much need of change and betterment ― service-wise as well as in order to reach competitiveness in global markets in the current electronic age. — (Albawaba-MEBG)
© 2000 Mena Report (www.menareport.com)