Economy, Business And Markets

New Backing for SMEs

New Backing for SMEsNew Backing for SMEs

Central Bank of Iran has required banks to provide the struggling small and medium manufactures with working capital. The CBI Saturday issued a decree on its website which instructs lenders to provide it with monthly reports on loans given to the SMEs. The loans would be offered at 20%. Companies already indebted to banks must explain how they want to repay the stressed assets in order to qualify for fresh lending.