New Scheme Boosts Recapping for Manufactures

The Money and Credit Council approved the outlines of a plan to streamline policies and procedures for recapitalization of manufacturing units.
Proposed by the Central Bank of Iran, the plan is dubbed “productive credit certificate” and was approved after extensive studies by CBI experts.
The action plan will be discussed in detail in the upcoming MCC meeting, according the CBI website.  
In a meeting with representatives from the Iran Chamber of Commerce, Industries, Mines and Agriculture in October, CBI boss Abdolnasser Hemmati said the plan would help banks meet the financial needs of manufacturing units without creating “non-productive liquidity”.