Banks and credit institutions have given an estimated 445.8 trillion rials ($1.26 billion) in collateral-free loans after the government announced the new lending program in January.
The money went to 1.216 million applicants from mid-January to November 22, the Economy Ministry reported Saturday.
In the past three months lending in the initiative reached 209 trillion rials ($592 million) or 46% of the total.
December 17, 2022 20:05
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Collateral-Free Loans Reach $1.26 Billion
According to ministry data, Bank Sepah was the leading provider of such loans with 138.4 trillion rials ($392 million) to an estimated 477,000 applicants, accounting for 21% of the total
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