Economy, Business And Markets

No Jualah Increase

No Jualah IncreaseNo Jualah Increase

The Money and Credit Council has voted against doubling Jualah contract loans (a type of low-interest Islamic loan) to 200 million rial ($ 6,667) from the current 100 million rial. It, however, ratified a proposal last week by the Ministry of Roads to increase regular mortgages in Tehran from 350 million rial ($11,555) to 600 million ($ 19,983) last Tuesday.