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IKRC, Setad Sign MoU

IKRC, Setad  Sign MoUIKRC, Setad  Sign MoU

The Imam Khomeini Relief Committee (IKRC) and Setad Foundation (Headquarters for Executing the Decree of the Imam on helping the underprivileged) signed a memorandum of understanding to provide financial aid to the deprived and IKRC covered households.

Signed by head of IKRC Parviz Fattah and President of the Setad Foundation Mohammad Mokhber, the MoU seeks to increase collaboration in providing financial support to the needy through loans for marriage, self-employment and medical care for incurable diseases.

The Setad Foundation will grant funds to the tune of $2.5 million (80 billion rials) to 4,000 beneficiaries. The IKRC will provide $12.3 million (400 billion rials) as interest-free business loans, repayable after two years.

Financialtribune.com