Iran’s regulator urges banks to back small, medium sized enterprises
Baku, Azerbaijan, June 9
By Farhad Daneshvar - Trend:
Central Bank of Iran (CBI), has urged the country's banks to allocate at least 10 percent of bank facilities to small and medium sized economic institutions.
Valiollah Seif, the governor of the CBI has explained that the effort is aimed at creating new job opportunities and giving a boost to economy and production, IRNA news agency reported.
The governor issued the call for allocating bank facilities to small and medium sized economic institutions through a letter following a four-hour meeting with the heads of Iranian banks on June 8.
In the first month of Iranian calendar year (started March 20), Iran's banks allocated 146.4 trillion rials (about $4.8 billion) to Iranian companies involved in economic sector in the form of working capital.