200,000 Marriage Loans in 24 Days

A total of 11 agent banks have allocated 200,000 marriage loans in the past 24 days, in line with the Central Bank of Iran’s recent measure to extend 550,000 marriage loans, Ali Asghar Mirmohammad Sadeqi, CBI’s deputy for credit affairs, announced. According to the official, 50,000 of the total loans were given to applicants in less developed provinces, CBI’s website quoted him as saying on Monday. Up until 2015, 30 million rials ($800) were given as interest-free marriage loan per person. The government increased the amount to 100 million rials ($2,600) per person and also earmarked the same amount in the current year’s budget, which was passed by the parliament. Lenders charge a 4% interest on the loan, which has to be repaid in four years.