Four More Banks Join ‘Gam’ Credit Structure  

The Ministry of Industries, Mining and Trade signed a memorandum of understanding with four banks on Saturday allowing them to issue “Productive Credit Certificates”, known by its Persian acronym Gam, bringing the number of banks equipped with this financial instrument to 17. 
The Central Bank of Iran governor, Ali Salehabadi, said that banks issued 336 trillion rials (almost $1 billion) worth of such certificates since it was launched in early 2021.
Gam is a market-oriented financial instrument that can be traded in the money and capital markets.  Lenders assist businesses by offering tradable credit certificates similar to LCs...