The CEO of Bank Melli says banks cannot provide facilities for housing loans because they are short of money supply. Abdol Naser Hemmati pointed to the high demand for mortgages saying, “Banks do not have enough money to lend to every applicant,” ISNA reported. The proposed interest rate for housing facilities is 21% for a ten-year term, which he believes is not economically feasible for the state-owned lenders.
