Baku, Azerbaijan, Jan. 13
By Fatih Karimov – Trend:
Iran’s banking system has paid over 3,113 billion rials (each USD makes 36,500 rials based on official rate) in loans to knowledge-based companies during the fiscal month from Sept. 23 to Oct. 22.
According to a report by the Central Bank of Iran (CBI), the country’s banking system has provided loans to 122 knowledge-based companies in the one-month period.
Privatized banks shared 2,149.5 billion rials of the paid loans, followed by private banks and financial institutes (688.4 billion rials) and governmental banks (275.1 billion rials).
The report which covers an 8-mont period from Feb. 19, 2017 to Oct. 22, reveals that the highest amount of loans paid to the sector falls on Fiscal month of Esfand (Feb. 21, March 20) with over 3,936.7 billion rials.
The lowest value(1,533.7 billion rials) was paid at the first calendar month of Farvardin (March 20- April 21, 2017).
The regulations on applying for knowledge based companies first showed up in Iran’s parliament in 2003, to promote the country’s knowledge economy and the advancement of technology and science in the country.
Companies that successfully get registered as a knowledge based have the luxury of getting special treatments, facilities and governmental grants which include a tempting 15 years of tax exempt, science labs, spaces at techno parks, loans, exempt on import and custom tax and more.
Interestingly back in 2013 there were only 2 active companies that were registered as a knowledge based company. In 2014 a total of 135 were active and by the end of 2015, 1610 active knowledge based companies were active in the country and were privileged with this special treatment.