Loans
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$1.4 Billion Given in 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…
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Flawed Financing Model Makes SMEs Desperate for Loans
EghtesadOnline: The banking system must spend the lion’s share of its resources on granting long-term loans to large enterprises, because of which small- and medium-sized enterprises (SMEs),…
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Subsidized Loans at $3b
EghtesadOnline: Since the beginning of the calendar year last March banks gave 1,650 trillion rials ($3.14 billion) loans to 1.889 million low-income applicants largely for youth marriage, childbirth…
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$1b Paid in Collateral-Free Loans
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…
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Banks Censured for Deflecting Marriage and Childbirth Loans
EghtesadOnline: The new CBI boss Mohammad Reza Farzin has urged parliament to take banks' shrinking resources into account before deciding the lending largesse.
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Collateral-Free Loans Reach $1.26 Billion
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…
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Loans to the Hard Up Rise
EghtesdaOnline:To help encourage early marriage, lenders are required to grant 1.5 billion rials per partner if the bride is below 23 years and the groom under 25.
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Subsidized Loans Continue to Low-Income Individuals
EghtesadOnline: Since the beginning of the calendar year in late March banks and credit institutions gave 1,080 trillion rials ($3.22 billion) loans to low-income people , namely to bolster…
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Jump in Collateral-Free Loans
EghtesadOnline: Banks and credit institutions gave 236 trillion rials ($747.5 million) in collateral-free loans after the government announced the new lending program in January.
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New Restrictions on Loans to Bank-Affiliated Companies
EghtesadOnline: The CBI recently obliged banks to regularly publish the names of big defaulters in the hope that it could help recover the billions in bad debt that have almost devastated the…
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Leader Admonishes Majlis for Overloading Banks With Loans
EghtesadOnline: Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei has warned lawmakers about passing legislation that put banks under additional financial pressure.
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Gov’t Moves to Spur Collateral-Free Loans
EghtesadOnline: The Economy Ministry is apparently determined to compel banks to accept collateral-free microloan requests as it has set a deadline for state-owned lenders to submit a report…
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Collateral-Free Micro Loans to Help Boost Lending: CBI
EghtesadOnline: Banks will no longer demand collateral for loans below 1 billion rials, a deputy with Economy Ministry said.
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Borrowers Struggling to Repay NDFI Loans
EghtesadOnline: The main challenge the National Development Fund of Iran is facing is the difficulty of borrowers in reimbursing loans, the fund’s deputy for banking and credit affairs said.…
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Compound Interest on Loans Is Still Contentious
EghtesadOnline: New rules governing bank loans passed by the Majlis this week, legally ban lenders from charging compound interest and is designed to help boost the business environment, lawmakers…
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Compound Interest on Loans Is Still Contentious
EghtesadOnline: New rules governing bank loans passed by the Majlis this week, legally ban lenders from charging compound interest and is designed to help boost the business environment, lawmakers…
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Loans Rise 50% to $33b
EghtesadOnline: Banks and credit institutions gave 9,007.8 trillion rials ($33 billion) in loans in the first five months of the current fiscal year (March 21-August 22).
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$37m in Bank Loans for Iranian Startups
EghtesadOnline: Four local banks have reached a multilateral deal with the state-backed Iran National Innovation Fund to provide low-interest loans worth 10 trillion rials ($37 million) to emerging…
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Home Renovation Loans Top $60m Since March 2019
EghtesadOnline: Home renovation loans in underdeveloped urban areas have been paid to 21,348 applicants since March 2019 up until now, Mohammad Hassan Alamdari, an official with Bank Maskan,…
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Budget Earmarks $15.7b as Home Construction Loans
EghtesadOnline: As per the Budget Law for the fiscal 2021-22, all banks and credit institutions must pay construction loans for a total of 1.2 million residential units in the current Iranian…
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Marriage Loans to Double Next Year
EghtesadOnline: The parliament has approved parts of the fiscal 2021-22 budget bills, based on which newlywed couples can receive marriage loans worth up to 1 billion rials ($4,000) next year.…
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NPLs Improve on Quarterly Basis
EghtesadOnline: Non-performing loans of Iranian banks and credit institutions were worth 1,770 trillion rials ($7 billion) by the end of the second quarter of the current fiscal year (Sept. 21),…
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$125m in Bank Loans for Mazandaran Agriculture Sector
EghtesadOnline: Mazandaran Province’s agriculture sector received a total of 30 trillion rials ($125 million) in bank loans during the first 10 months of the current Iranian year (March 20, 2020-Jan.…
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State Fund Extends $112 Million in Loans to SMEs, Startup Ecosystem
EghtesadOnline: The state-backed Omid Entrepreneurship Fund has paid 28 trillion rials ($112 million) in loans to small- and medium-sized enterprises, knowledge-based companies and startups since…
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Bank Loans Almost Double
EghtesadOnline: Banks and credit institutions gave 12,199.4 trillion rials ($53 billion) in loans to economic sectors in the nine months since the beginning of the current fiscal year (March…
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Q1-3 Housing Loans Hit $1.12b
EghtesadOnline: Bank Maskan, the state agent bank of Iran’s housing sector, paid a total of 1.47 million loans worth 257,800 billion rials ($1.12 billion) to applicants during the nine months…
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Labor Ministry Rolls Out New Virus Loans Worth Over $300m
EghtesadOnline: Those engaged in transportation, tourism and handicraft industries, as well as sports and culture and arts will receive a new round of coronavirus loans worth upwards of 80,000…
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Over $300m in Loans to Virus-Hit Businesses
EghtesadOnline: Out of 533,752 businesses that registered at Kara.mcls.gov.ir and were introduced to the banks to receive government-backed coronavirus financial support, 365,841 businesses (70%…
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Distressed Loans Restructured
EghtesadOnline: The government on Saturday extended the repayment deadline for troubled loans to the current fiscal yearend (March 19), the vice president for economic affairs said.
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NDFI Loans to Help Lift Sagging Bourse
EghtesadOnline: The National Development Fund of Iran, the country's sovereign wealth fund, has deposited 10 trillion rials ($40 million) with the Capital Market Stabilization Fund to be invested…