Economy, Business And Markets

Maskan Loans

Maskan LoansMaskan Loans

Bank Maskan has given a total of 250,000 loans worth 60 trillion rials ($ 2 billion) in the first nine months of the fiscal year that started on March 21, the bank’s CEO Mohammad Hashem Botshekan said. It also paid 86,000 loans worth 8 trillion rial ($ 267 million) in the form of Ju’alah contracts (a type of low-interest Islamic loan during the same period, reported the bank’s website. As the only bank specializing in housing loans, the lender said it helped build 65,000 housing units. Accordingly, 101,000 loans were made available to home-buyers showing a 96% increase in worth compared to the same period last year. Maskan also is the main lender to the multi-billion-dollar Mehr project, a low-cost public housing scheme initiated by the former administration.