As Coronavirus Takes Toll; Businesses Given 3-Month Grace Period

The Money and Credit Council -- the top finance and banking policymaker  -- agreed on Wednesday to postpone repayment of loans to mitigate the effect of new coronavirus on businesses.  
The decision came on the heels of calls by manufactures and business owners  struggling with financial problems  emanating from the contagious disease, according to a notice seen on the website of the Central Bank of Iran.
As per the MCCdecision, borrowers have been exempt from paying their monthly loan installments for up to three months starting from the end of the ongoing calendar month till May 21.