Banks Provide $328m in Security Deposit Loans

Almost 87 trillion rials ($328 million) was paid in security deposit loans for those renting homes since the beginning of the current fiscal year in March 2021, an official at the Central Bank of Iran said. 
“The government instructed banks to allocate 100 trillion rials ($377m) in security deposit loans and the remaining 13 trillion rials ($49m) is under process," Shahrazad Daneshmandi, head of CBI credit department, was quoted as saying by bank's website. 
Borrowers have applied for 234 trillion rials ($883 million), which is significantly higher than the ceiling. "We cannot lend above the set ceiling and thus many applications will be denied,” Daneshmandi said.