Baku, Azerbaijan, Feb. 25
By Gazenfer Hamidov – Trend:
Iran’s banking system has paid over 3,709.7 billion rials (each USD makes 37,200 rials based on official rate) in loans to knowledge-based companies during the fiscal month from Nov. 22 to Dec. 21.
The figure indicates a fall by 7.7 percent compared to the preceding month, when Iranian banks allocated the highest value of loans to the sector during the current fiscal year (started March 20, 2017), according to a report by the Central Bank of Iran (CBI).
The report which covers a 10-mont period from Feb. 19 to Dec. 21, 2017 reveals that the highest amount of loans paid to the sector falls on Fiscal month of Aban (October 23-Nov. 21, 2017) with over 4,021.2 billion rials.
The lowest value (1,533.7 billion rials) was paid at the first calendar month of Farvardin (March 20- April 21, 2017).
According to the CBI report, the country’s banking system has provided loans to 128 knowledge-based companies in the one-month period from Nov. 22 to Dec. 21.
Privatized banks shared 1,835.3 billion rials of the paid loans in the 1-month period, followed by private banks and financial institutes (1,289.4 billion rials) and governmental banks (585 billion rials).
The Privatized banks also stood at the first place in terms of paid loans to knowledge-based companies during the 10-month period Feb. 19 to Dec. 21, 2017 with allocating 16,368.2 billion rials of loans.
Private banks and financial institutes (7,176.1 billion rials) and governmental banks (4,789.4 billion rials) stood at next places.
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.