Ara Shavardian: The banking system should not set a separate table for its employees when paying out facilities.

Ara Shavardian wrote in a tweet: "The banking system should not set a separate table for its employees when paying out loans."

In exchange for the power and rent of money creation that it has from the government, the banking system is obligated to support production and what brings the greatest good to the people of society. But the question is, does the bank have the right to provide facilities to any individual or specific institution?

To answer this question, we must first examine the creation of money in the banking system. In fact, a bank is an institution that can create money and pay it to applicants in the form of facilities, and this is contrary to the popular belief that the bank should be an intermediary of funds between the depositor and the borrower. In fact, when the bank gives a facility to the applicant, new money is created and the liquidity of the entire economy increases, not the depositor's money is paid to the borrower.

In recent years, the process of disbursing loans to ordinary people has become very difficult and difficult, so much so that people in dire need of bank loans wait in line for a long time to receive the loan and must provide the bank with many documents and evidence in order to be allowed to receive the loan. However, many bank employees, individuals, and institutions are special people who, without doing anything special or providing sufficient evidence, manage to receive loans in large amounts.

Ara Shavardian, a representative of the Armenian Christians of the north of the country in the Islamic Consultative Assembly, tweeted in response to the payment of facilities by the banking system, writing: "The country's liquidity is a trust with the banks, and the banking system should not imagine that it can spread a separate table for its employees when paying facilities."