The functioning of such a burgeoning state apparatus would require the development of increased political support by promoting drastic and far-reaching economic reforms. As such, in 1926 a new School of Commerce was created, and the government assumed the lead in establishing a Chamber of Commerce. The government also proceeded to encourage the development of private industry by offering financial incentives such as government-sanctioned monopolies and low interest loans to prospective local factory owners. In 1928 another significant step towards establishing fiscal order was taken with the establishment of the National bank ("Bank-e Melli") which assumed functions previously reserved to the British Imperial Bank. Legal reforms to strengthen property rights and to create an atmosphere conducive to commercial investment were also gradually devised, and shortly thereafter a Bar Association ("Kanoon-e Vokala") was created in 1930.