Latest on paid loans to Iran’s knowledge-based companies
Baku, Azerbaijan, April 28
By Umid Niayesh – Trend:
Iran’s banking system has paid over 4,813.6 billion rials (each USD makes 42,000 rials based on official rate) in loans to knowledge-based companies during the fiscal month from Feb. 20 to March 20, 2018.
The figure indicates a rise by 22.3 percent year-on-year, according to a report by the Central Bank of Iran (CBI).
However compared to the preceding month it registered a fall by 4 percent, when Iranian banks allocated the highest value of loans to the sector during the fiscal year to March 20, 2018.
The report which covers a 12-month period from March 2017 to 2018 reveals that the highest amount of loans paid to the sector falls on Fiscal month of Bahman (Jan. 20-Feb. 20, 2018) with over 5,014.6 billion rials.
The lowest value (1,533.7 billion rials) was paid at the first calendar month of Farvardin (March 20- April 21, 2017).
Iranian banks paid 37,548.6 billion rials of loans to the knowledge-based companies during the last fiscal year.
According to the CBI report, the country’s banking system has provided loans to 218 knowledge-based companies in the one-month period from Feb. 20 to March 20.
Privatized banks shared 2,050.8 billion rials of the paid loans in the 1-month period, followed by private banks and financial institutes (1,443.9 billion rials) and governmental banks (1,318.9 billion rials).
The privatized banks also stood at the first place in terms of paid loans to knowledge-based companies during the last fiscal year, with allocating 19,542.7 billion rials of loans.
Private banks and financial institutes (10,839.8 billion rials) and governmental banks (7,166.1 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 two 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.