Economy, Business And Markets

MPs Bill for Banks

MPs Bill  for BanksMPs Bill  for Banks

State-owned commercial lenders will raise capital to increase lending to the private sector, lawmakers decided on Wednesday. The parliament ratified a bill to raise the capital of the banks by 100 trillion rials ($2.85 billion at market rate) during the next 10 years from state budget. The lenders are obligated to lend triple that amount to non-governmental projects as loans with five year repayment periods. The projects will be assigned by the vice president for strategic planning and supervision.