Iran Plans New Credit Card Scheme to Support Local Products

Iran’s banking system is now preparing a new credit card scheme for supporting locally produced goods, following a previous plan that failed to take off.
“In the meetings that we had with state-owned and private banks for supporting Iranian products, it was decreed that banks consider the policies of allocating loans through credit cards for the specific purpose of purchasing Iranian goods,” Kourosh Parvizian, the head of the Association of Private Banks and Credit Institutions, told Fars News website.
According to Parvizian, who is also the chief executive of the private Parsian Bank, banks have begun the process of clinching deals with local companies to launch the scheme and this includes his bank as well, which is doing it through its leasing arm, Parsian Leasing Company.