Sanctions imposed on Iran's banking system, an opportunity

Iranian President Mahmoud Ahmadinejad addresses the 63rd annual session of the United Nations General Assembly at UN Headquarters, on 23 September 2008; in New York City.

6 October 2008

Tehran-President Mahmoud Ahmadinejad said on Monday that sanctions imposed on Iran's banking system have provided opportunities for the Islamic Republic.

Addressing a ceremony to introduce the new Governor of the Central Bank of Iran, Mahmoud Bahmani, the president called for designing a fair banking system.

As to the world financial crises and the possibility of repetition of such crises in other world countries, he urged the banking managers to turn those threats to opportunities.

He stressed, "The fair banking system would help us survive from the current economic crisis."

On the US financial crisis, the president noted that the world capitalist powers are currently facing a dead end.