Marriage Loans Hit Record

In the first seven months of the fiscal year (March 20-October 22), Iranian banks allocated more than 38.5 trillion rials ($1.2 billion) in Qarzol-Hasana (interest-free microcredit) marriage loans to 440,300 applicants. “This volume of loan has been unprecedented in previous years and shows how committed banks and the Central Bank of Iran are in supporting matrimony for the youth,” reports the official website of the CBI. According to the system that registers statistics pertaining to this category of microcredit, from the time the system was founded in 2009 until October 22 of the current year, more than 242 trillion rials ($7.6 billion) in loans have been given to 8.03 million applicants.