Iran allocates more bank advances to various sectors of economy

Iran Materials 20 October 2021 15:11 (UTC +04:00)

TEHRAN, Iran, Oct.19


Iranian banks are increasing the advances for economic sectors, said the public relations of Central Bank of Iran, Trend reports citing ILNA.

Banks have paid about $295 billion dollars to economic sectors during the first half of the current Iranian year (started March 21, 2021) which indicates a 57.9 percent increase compared to the same time last Iranian year (started March 20, 2020).

About 67.5 percent of paid advances were working capital assigned to industries, mining, agriculture, housing, commerce, and services.

Banks to expand their investment in domestic production and encourage economic sectors to move toward capital market as a tool for financing projects.