Rise in Productive Credit

Banks issued 75 trillion rials ($240 million) in ‘Productive Credit Certificates’, known by its Persian acronym Gam, in one month, head of the Central Bank of Iran public relations office said. 
In a note on his social media account, Mostafa Qamari-Vafa said the value of Gam instruments in the last calendar month equaled the amount issued since the scheme was launched in early 2021. 
Gam is a market-oriented financial instrument that can be traded in money and capital markets.  Lenders assist credible businesses by offering tradable credit certificates similar to LCs.  The certificate can be given to suppliers of raw materials, machinery and equipment.