Business And Markets

$3.4 Billion Paid in Mandatory Loans

$3.4 Billion Paid in Mandatory Loans
$3.4 Billion Paid in Mandatory Loans

Banks and credit institutions gave 1,390 trillion rials ($3.42 billion) in loans to encourage youth marriage and childbirth since the beginning of the calendar year last March
The Central Bank of Iran said the money was given to 1.57 million hard up applicants in nine months.
“Banks processed 643,330 loan applications worth 259 trillion rials [$637 million] to promote childbirth,” the CBI website showed. 
Lenders were obliged in April last year to give loans to new parents to encourage childbirth.  The money is given to low-income households who had a child in the previous fiscal year (March 2021-22) and after.  


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