Banks   Building Materials  

MCC Raises Loan Ceiling for Rural Housing and Jobs

The Money and Credit Council - a top financial decision-making body affiliated to the Central Bank of Iran - approved a decision Wednesday to raise the ceiling of loans allocated for renovating rural residential units and interest-free loans for job creation.

As per the decision, the ceiling for renovating rural homes has been raised to 400 million rials ($2,666), the CBI website reported. 

Agent banks will offer the loans in coordination with the Housing Foundation of Islamic Revolution. 

HFIR is a state body with a mandate to provide housing for the underprivileged and low-income people and help post-disaster reconstruction and recovery.

In addition, the MCC agreed to raise the ceiling of interest-free loans for job creation to 500 million rials.  The loans will be available for the low-income strata under the cover of major relief organizations in Iran, including Imam Khomeini Relief Foundation and the State Welfare Organization. 

According to CBI data, in the previous fiscal (March 2018-19), lenders paid 1,125 trillion rials ($8 billion) in loans for creating new businesses.

News No: 4570
Date: 2019/05/18 - 14:41
News Source: Financial Tribune

Jobs  Rural Housing  Raises Loan  Credit Council  CBI 


Leave a Comment:


Over €6.5b of non-oil income injected to NIMA since March

Iran’s non-oil exporters injected €6.68 billion of their revenues into the Forex Management Integrated System, locally known as NIMA, since the beginning of the current Iranian calendar year (March 21) up to August 11.

Launching integrated forex market postponed

Central Bank of Iran (CBI) has postponed launching the integrated forex market which was due to start operation by mid-August, Tasnim news agency reported.

Iran’s economy strong enough to withstand U.S. sanctions

A member of Majlis Economic Committee said on Tuesday that the country’s economy has the capacity to pass through the unjust U.S. sanctions, IRIB reported.

100+ Exchange Bureaus to Participate in New Forex Market

Head of the company that will oversee the regulated forex market says the new market will open with the participation of 100 plus money changers.

Integrated forex market to start operation by mid-August

Central Bank of Iran (CBI) plans to launch an integrated forex market in the country by mid-August, IRIB reported.

Iran to Further Solidify Economic Infrastructures against Foreign Plots

Iran will undertake a new measure to contain foreign-backed shocks against its economy with operationalizing the long-anticipated initiative of Integrated Currency Market by mid-August, in a bid to strengthen its economic system in the face of foreign interventions.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners