Surge in BMI Interest-Free Loans
Economy, Business And Markets

Surge in BMI Interest-Free Loans

Bank Melli Iran has provided over four million Qarzol-Hassaneh (interest-free) loans worth 87 trillion rials ($2.3 billion) in the past four years, the bank’s website announced. The value of interest-free loans jumped 45% year-on-year during the Iranian year that ended March 20, 2017, as BMI doled out interest-free loans worth 29 trillion rials ($760 million) last year. The lender had registered an increase in Qarzol-Hassaneh loans two years ago as well, but last year these loans dipped by 8% YOY. BMI, the first national Iranian bank, was founded in 1928 by a parliamentary order. Since then, it has consistently been one of the most influential Iranian banks. It is now the largest commercial retail bank in the country with over 3,300 branches and 43,000 employees.

Short URL : https://goo.gl/wfG77u
  1. https://goo.gl/vxPgX5
  • https://goo.gl/8qiatP
  • https://goo.gl/gpNQTc
  • https://goo.gl/MZXo3s
  • https://goo.gl/gxvVDV

You can also read ...

Qatar, Oman Becoming Iran's New Trade Gateways
Iran is working to curb its trade ties with the UAE, replacing...
Connectivity Central to Iran-India Future Ties
Iranian President Hassan Rouhani’s recent state visit to India...
Exports to Thailand, Indonesia See Biggest Rise
Iran’s exports to Thailand and Indonesia, crude oil excluded,...
Export Billet Prices Climb Amid Higher Offers, Transactions
Iranian export billet prices went up by $5-15 per ton on an...
Renewed Efforts to Sideline US Dollar in Foreign Trade
Months after a meeting between Iran’s Leader Ayatollah Seyyed...
Nissan to Test Self-Driving Taxis
Nissan Motor Co is taking its first steps to becoming an...
Coated Steel Strip Production Jumps 42% in 10 Months
Iran’s coated steel strip output reached a record 1.26 million...
Rial Gaining Ground
Rial continued its gain against the US dollar in Tehran's...

Add new comment

Read our comment policy before posting your viewpoints