12861
BMI Gives $645m in Interest-Free Loans
Economy, Business And Markets

BMI Gives $645m in Interest-Free Loans

Bank Melli Iran has provided 18 trillion rials ($645 million at official exchange rate) in interest-free loans between March 21, 2014 and March 6, 2015, IRNA reported.
Newly-weds received a major portion of the loans amounting to 9.5 trillion rials ($339 million) in total. Some 3.8 trillion rials ($138 million) were given in collateral loans, 2.5 trillion rials ($90.5 million) in self-employment loans, 968 billion rials ($35 million) in urgent loans, and nearly 345 billion rials ($12 million) in home business loans.
An additional 26 billion rials ($932,000) was given in healthcare loans and 3.7 billion rials ($135,000) in student loans.    
Bank Melli, the first national Iranian bank, was established in 1927 by a parliamentary order. Since then, it has consistently been one of the most influential Iranian banks. It is now the largest commercial retail bank in the Middle East with over 3,300 branches and 43,000 employees.
The bank handles most of the government’s financial transactions, including but not limited to taxes, fines, utility payments and government employee salary payments.
Due to being state owned, Bank Melli has lagged behind other banks in offering new services including e-banking.

 

Short URL : http://goo.gl/whLr10

You can also read ...

Iran-Afghanistan Trade Corridors to Bear Fruit for Both India, China
A strategic deployment of trade corridors is taking shape...
EIB Casts Doubt on European Plan to Salvage Nuclear Deal
The European Investment Bank’s global operations would be put...
India Says Iran Economic Ties Not Affected by US Sanctions
Less than three weeks before the first wave of US sanctions...
MTN Halts Iran Fiber Optic Investment
South Africa’s MTN has halted collaborations with Iranian...
Think Tank Recommends Ways of Overcoming JCPOA Challenges Facing EU
European efforts to keep Iran in the nuclear deal (formally...
Majlis Think Tank Calls for  Regulating Cryptocurrency
The research arm of Iran's Parliament has conducted a study on...
Stocks Bow to Systematic Risks
Systematic risks have caught up with the Iranian stock markets...
Warning to Banks Withholding Customer Data
The Iranian National Tax Administration’s special prosecutor...

Trending

Googleplus