Parviz Mohammadnejad, a member of Parliament’s committee of energy, made the remarks, adding that cooperation between banks and the oil industry is a kind of win-win game.

Speaking to Shana, he further said: if we create mechanisms and frameworks that facilitate the banking system’s presence in the oil industry activities, they will definitely fill the existing gap of financial resources, leading to stable profitability and efficiency of the banking system as well. 

“The stray liquidity which sometimes goes to the housing and auto market, should be redirected toward the oil industry, " he said, noting that directing banks’ resources towards the oil industry, as the driving force of the economy, will undoubtedly result in playing a positive role in the country’s economy by banks.

Recently head of the energy and environment committee at Tehran’s Chamber of Commerce, Saeed Tajik, had expressed similar views announcing that directing Iranian banks’ liquidity toward investment in oil and gas projects definitely will have desirable economic effects, adding making investment in oil, gas and petrochemical sectors is required to be pursued seriously otherwise their development will be challenging.