Collateral-Free Loans

EghtesadOnline: Bank Sepah was in the lead with $361 million to an estimated 630,000 applicants, accounting for 21% of the total. Mehr Iran Qarz Al-Hasanah Bank ranked next with $263m to 430,000 applicants, followed by Tejarat Bank with $202m to 141,000 people in need.

EghtesadOnline: Collateral-free loans are given to salaried workers and retirees struggling with the worsening cost of living crisis and galloping inflation – a troubling phenomenon now seen across continents including in the rich countries.

EghtesadOnline: The secretary of Private Banks and Credit Institutions Association says collateralization is crucial for giving loans and banks are not required to lend without collateral.

EghtesadOnline: The secretary of Private Banks and Credit Institutions Association says collateralization is crucial for giving loans and banks are not required to lend without collateral.

EghtesadOnline: According to ministry data, Bank Sepah was the leading provider of such loans with 138.4 trillion rials ($392 million) to an estimated 477,000 applicants, accounting for 21% of the total Collateral-Free Loans Reach $1.26 Billion Collateral-Free Loans Reach $1.26 Billion.