Economy, Business And Markets

Unified Contracts for Interest-Free Loans

Unified Contracts for Interest-Free LoansUnified Contracts for Interest-Free Loans

The Money and Credit Council announced a uniform contract for all interest-free loans provided by Iranian banks across the country. The new form of contract will be used as of next year, the council said. But it did not give a fixed date. According to the Central Bank of Iran’s public affairs office, the necessary measures, such as printing and distributing the unified forms will be taken soon. Banks will also be required to inform all clients of the newly implemented changes.