Bank Maskan Modifies Housing Finance Policies

Bank Maskan, the agent bank of Iran's housing sector, has made several policy changes to address the ongoing turmoil in the domestic foreign currency market, which has led to a rise in home prices and pressured people in a market beset by speculative activities.
"Recent price jumps in the housing market and their fluctuations have caused negative repercussions on the loan applicants' purchasing power and reduced the share of home loans from the total price of residential units, so measures have been taken in Bank Maskan so that we can balance these inflationary effects to a degree," Abolqasem Rahimi Anaraki, the lender's CEO, was quoted as saying by HIBNA.