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:


VP: Iran's Next Year Budget Bill Planned on 1mln bpd of Crude Export

Iranian Vice-President and Head of the Management and Planning Organization (MPO) Mohammad Baqer Nobakht announced that based on the next year's budget, the country will decrease its oil exports from the current 1.5mln bpd to 1mln bpd.

Iran, Oman to Ease Financial Transactions

Governor of the Central Bank of Iran (CBI) Abdolnassder Hemmati said Tehran and Muscat have paved the way for facilitating financial transactions

CBI: Iran, Oman Economic Ties to Grow Further

Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati said on Saturday that his country and Oman are enjoying very close political relations which will bring about stronger economic ties, adding that he will have more meetings with Omani officials.

Inflation rate drops 0.9%

The Statistical Center of Iran (SCI) announced that the inflation rate in the twelve-month period ended on November 22, which marks the end of the eight Iranian calendar month of Aban, stood at 41.1 percent.

CBI Governor Hopes for Continued Reduction of Inflation Rate in Iran

Governor of the Central Bank of Iran (CBI) Abdul Nasser Hemmati underlined government's full control over the foreign exchange market, and expressed hope that reduction of inflation rate would continue in the next few months.

Bank loans to economic sectors up 26% in H1

Iranian banking system has offered 3.821 quadrillion rials (about $90.97 billion) to domestic economic sectors in the first six months of the current Iranian calendar year (March 21-Spetember 22), registering a 26-percent rise from the previous year’s same period, IRNA reported.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners