A Few Points on the Transfer of Shefa Darou: Banking or Holding Company?

The transfer of Shefa Darou is not just a routine stock market transaction; this move is a step toward restructuring the banking system and returning banking resources to their core mission.

According to Mehr reporter, the transfer of Shafadaro company is not just a normal stock exchange transaction; This action is a step towards reforming the structure of banks and returning banking resources to their main mission. The transfer of Shefadaro Investment Holding by the Melli Bank of Iran should be evaluated in a framework beyond the sale of shares of a pharmaceutical group. The main issue is whether banks should continue to own and manage economic enterprises or their resources and management capacity should be focused on the main mission of banking, that is, equipping resources, financing production and supporting the country's economy.

The legal basis of the assignment is clear. Article 16 of the law on removing barriers to competitive production and improving the country's financial system obliges banks and credit institutions to transfer their shares and subsidiaries in non-banking companies. According to the same article, it is the Central Bank's responsibility to determine whether the activities of these companies are non-banking. Article 17 of the same law also foresees the guarantee of executions for non-fulfillment of legal duties within the prescribed framework. Therefore, handing over the healer in case of legal coverage is an action in the way of fulfilling the legal duty, not just a managerial choice. Of course, the economic benefits of this handover are also significant. First, withdrawal from banking can free the financial resources and management capacity of National Bank to focus on financing economic enterprises and providing banking services instead of directly managing non-banking companies. Second, the transfer of ownership to a capable investor can provide the context for more specialized management, new investment and productivity improvement in the pharmaceutical complex. Third, transparent allocation in the capital market strengthens the possibility of public evaluation of the transaction and monitoring of the price discovery process.

Of course, we should not forget that selling shares alone does not guarantee the realization of these benefits. Fair pricing, eligibility of the buyer, transparency of transaction terms and commitment to maintain production capacity, employment and stability of drug supply are the requirements for the success of the transfer. In the pharmaceutical industry, the public interest and security of drug supply should be taken into consideration at the same time as economic considerations. Accordingly, the opposition to the assignment must be accompanied by a clear legal and economic argument; Similarly, agreeing to it should not be considered as ignoring the sensitivities of the pharmaceutical industry. The solution is not to stop the principle of assignment; Rather, it is a careful monitoring of how it is implemented. Shafadaro can be an important test to pass from banking to professional banking; A test whose success will be measured not by the principle of announcing the sale, but by the transparency of the transaction, the quality of the buyer, and the resulting benefits for the bank, the pharmaceutical industry, and the country's economy.