NDFI Limits Access to Grace Period

It has been decided that multiple grace periods on unpaid loans will be discontinued, the National Development Fund of Iran (NDFI) said.
The rare decision came during a meeting between the NDFI board of trustees and President Ibrahim Raisi last week, the manager of Anti-Money Laundering and Regulation Adaptation Affairs of the sovereign fund said.
“Henceforth banking facilities [loan repayment] will be eligible for grace periods based on the progress of projects. As such, the approach will differ subject to whether the projects are “in progress”, “abandoned” or “launched”, Azam Houshangi was quoted by the NDFI news portal as saying.