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يكشنبه, 19 نوامبر 2017
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Financial support to cooperatives
Increasing competitiveness of cooperatives
Open market cooperatives

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For the purpose of establishing basic changes in the national economy, in June 2005, the Supreme Leader  notified to the chiefs of the three forces the general policies of principal 44 of the constitution by the approach of lowering the role of government in the economy, increase the non-governmental sector’s role with the priority given to the cooperative section   in the three clauses A, B and C by focusing on people’s participation in the economy. His Excellency in clause B paid specific attention to cooperative sector in defining general policies for the purpose of realizing the 25 percent share of the cooperative in national economy, creating employment for unemployed and removing the restrictions in the cooperatives presence in all economic arenas including insurance, banking, establishing national overall cooperatives for covering the three ten percent of the society and poverty removal.

In line with the policies notified for providing employment conditions and facilities for all, realization of social justice and fair distribution of wealth, the government; too, has been showing specific attention to creating a safe environment for investment and removing its barriers in the cooperative sector in such an extent that by the collaboration of Islamic Legislative Assembly, by virtue of note one of clause V, article 9 of the Act pertaining to Amendment  of Parts of the Fourth Economic, Social and Cultural Development Plan of the Islamic Republic  of Iran and in the implementation of the general policies of principal 44 of the constitution, passed in 2008,  in addition to establishing Tosse Taavon (cooperative development bank) also established Cooperative Investment Guarantee Fund as a specialized institute in the cooperative sector. On the other hand, one of the main obstacles in grating  credit facilities for the cooperatives is their lack of sufficient securities as demanded by financial and credit institutes and the high risk of investment in those firms; therefore, the Cooperative Investment Guarantee Fund issues various types of guaranty letters through validation  of applicants for the purpose of developing he cooperative sector and removing its obstacles.

Based on the resolution of the council of ministers on March 1, 2010 and article 2 of the articles of association, the Cooperative Investment Guarantee Fund replaced State Cooperative Fund by changes in its article of association. The scope of activities of the fund does not merely restrict to the cooperative companies and it protects cooperative companies and facilitates providing their financial resources through securing the credits and investments. The Cooperative Investment Guarantee Fund is a legal entity and has financial independent. The field of activities of the fund is across the country and its head office is  in Tehran. The Fund is authorized to assign parts of its activities to  qualified legal entities through concluding contracts and/or give representation to agencies inside and outside the country. 

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