32367
Credit Card Intro
Economy, Business And Markets

Credit Card Intro

Central Bank of Iran released the details of the credit card scheme on Wednesday. According to CBI’s website, the new cards will be valid only for purchasing home appliances made by domestic manufacturers. Debts are to be cleared within 12 months at a 12%  and in case cardholders fail to pay their bills for six months, banks are allowed to withdraw the amount from their bank accounts. The central bank would finance the scheme up to 42 trillion rials ($1.38 billion) through the interbank market and authorized sellers--enlisted by the Ministry of Industries, Mines and Trade — will be granted 5% discount. The scheme is a part of the government’s incentive package, unveiled in October, to help domestic manufacturers to reduce their inventories and promote consumer spending.

 

Short URL : http://goo.gl/NcGEBp
  1. http://goo.gl/HSgMos
  • http://goo.gl/oSVBXi
  • http://goo.gl/N3SKri
  • http://goo.gl/GjDFQQ
  • http://goo.gl/XB0x1v

You can also read ...

Mental Health Investment: The Economic Case
The link between mental health and economic productivity is...
Bloom and billet sales made up the lion’s share of KSC’s sales.
Iran’s largest steel exporter Khouzestan Steel Company...
IZMDC’s Zinc Output Tops 8,000 tons
Iran Zinc Mines Development Company’s subsidiaries produced a...
Carmakers Pile Into Europe Scrappage Offers
Renault-Nissan and Kia are the latest car companies to launch...
Banks will now draft a single set of balance sheets that adhere to CBI’s IFRS-based templates.
Minister of Economic Affairs and Finance Masoud Karbasian and...
Ikarus buses were popular in Iran during 1990s.
Hungarian bus manufacturer Ikarus is set to re-enter Iran...
Plan to Make Home Loans More Affordable
The administration of President Hassan Rouhani is mulling new...
IRICA Chief  in Turkey
Foroud Asgari, the new head of the Islamic Republic of Iran...

Trending

Googleplus