Letters of Guarantee Rise by 88%

Letters of guarantee worth 514 billion rials ($13.7 million) were issued during the first quarter of the current fiscal year (March 21-June 21), registering an 88% rise compared with the corresponding period of last year, the managing director of Small Industries Investment Guarantee Fund said. “The entire procedure of issuing letters of guarantee has been carried out electronically since the start of the year,” IRNA also quoted Mohammad Hossein Mogheiseh as saying.