Transformation of the business system focuses on addressing the bottlenecks of capital injection and ensuring equitable distribution of economic justice, particularly in countries reliant on state economies. Consequently, this study aims to investigate and resolve the key issues in Iran's credit allocation system, which requires a deep understanding and modification to benefit businesses, community, and the government. In this regard, this paper introduces a novel integrated methodology known as co-value creating (COVAC), which integrates critical systems heuristics (CSH), strategic choice approach (SCA), and multiple-attribute decision-making (MADM). COVAC employs a comprehensive logical process that combines systems thinking and soft operational research, with a focus on creating shared value. The results of this study reveal a significant gap between the current and ideal situations in terms of equality, transparency, standards, globalization, knowledge, governance, and dependency in the credit allocation system of Iran. To implement the final scheme based on the results, significant attention is required, taking into account the shared value score and ensuring compatibility to address the identified gaps in the government, central bank, and commercial banks' sectors. Notably, since the initiation of this research, several changes have occurred, aligned with enhancements made to the credit allocation in Iran’s banking system.