Economy, Business And Markets

MPO Approval

MPO ApprovalMPO Approval

To provide low-interest facilities for non-musharakah contracts banks need approval from the Management and Planning Organization and the government should compensate the difference in the two lending rates. The government has been recommended to draw on subsidies and other funds to compensate the disparity, the Central Bank of Iran website reported. Money and Credit Council announced that the interest rate for non-musharakah contracts in the fiscal year (started March 2015) is approximately 21%.