Baku, Azerbaijan, Nov. 16
By Khalid Kazimov – Trend:
Central Bank of Iran has approved a bill on allocating interest-free loans to those hit by a recent earthquake in western regions of the country.
Under the bill, the Iranian banking system is obliged to allocate up to 100 million rials (about $3,000) in loan to families hit by the earthquake, ISNA news agency reported.
The lenders will begin paying back the loans after six month in a four-year installment, the report added.
The provincial disaster management organizations will introduce the eligible applicants to the banking system to receive the loans.
The 7.3-magnitude earthquake on Nov. 12 claimed at least 500 lives in the country’s western regions.