As reported, of the total facilities, 23.7 quadrillion rials (about $46.64 billion) equivalent to 82 percent, was paid to the business owners (real and legal), and 4.77 quadrillion rials (about $9.38 billion) equivalent to 16.8 percent, to the final consumers (households).

According to CBI data, the share of facilities paid in the form of working capital in the first seven months of the current year was 76.9 percent of the total paid loans.

During the said period, businesses active in the mining and industry sector received over 7.02 quadrillion rials (about $13.8 billion) in the form of working capital loans, accounting for 38.6 percent of the total such facilities.

Over the past three years, CBI has been collaborating with the Industry, Mining, and Trade Ministry to implement a program based on which bank facilities are provided to small and medium-sized enterprises (SMEs) and semi-finished projects.

The mentioned facilities are mainly provided for renewing machinery, equipping production units, or completing semi-finished projects.

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According to the Central Bank of Iran (CBI) data, Iranian banking system has paid 509.4 trillion rials (about $1.959 billion) of facilities to 1,176 knowledge-based companies during the ten-month period of this year.

Bank Melli Iran (BMI) accounted for the biggest share of the paid facilities with 82 trillion rials (about $315.3 million), followed by Bank Saderat Iran (BSI) with 68.6 trillion rials (about $263.8 million) of offered facilities.

The Islamic Republic has developed plans to support and empower knowledge-based companies as a step forward to materialize the goal of the year which is “Production: Support and Elimination of Obstacles”, as the economy is fighting the U.S. sanctions.

The law for promoting and supporting knowledge-based companies was approved by the Majlis (Iranian parliament) in 2010, paving the way for a jumpstart in the march toward scientific progress.

Over the past couple of years, the concept of ‘knowledge-based company’ has changed to ‘knowledge-based society’, meaning that supporting knowledge-based companies will lead to many social and economic advantages for the public.

The number of knowledge-based companies has increased from around 50 in 2013 to more than 5,700 in the previous Iranian calendar year.

Currently, many knowledge-based companies are active in different fields, ranging from information and communication technology to health, agriculture, and energy.

Various knowledge-based companies have made advancements in different fields, however, the level of progress in the fields of health, ICT, agriculture, and energy has been more noticeable. Of course, other sectors such as the automotive industry have removed many bottlenecks so far.

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According to the data provided by the Central Bank of Iran (CBI), working capital loans paid to different economic sectors in the mentioned 10 months were above 15.205 quadrillion rials (about $57 billion), accounting for 66.3 percent of the total provided facilities.

During the said period, the country’s mining and industry sector received over 5.502 quadrillion rials (about $20.6 billion) in the form of working capital loans, accounting for 36.2 percent of the total such facilities.

In its latest report on the payment of facilities to various economic sectors, CBI emphasizes that in order to continue the payment of facilities to economic sectors it is necessary to consider inflation control strategies.

Iranian banks paid 20.195 quadrillion rials (over $75.7 billion) of facilities to domestic economic sectors in the first nine months of the current Iranian calendar year (March 21-December 21, 2021), which was also 59.5 percent more than the figure for the same period in the previous year.

Based on CBI data, working capital loans paid to different economic sectors in the mentioned nine months were above 13.424 quadrillion rials (about $50.37 billion), accounting for 66.5 percent of the total provided facilities.

Over the past three years, CBI has been collaborating with the Industry, Mining, and Trade Ministry for implementing a program based on which bank facilities are provided to small and medium-sized enterprises (SMEs) and semi-finished projects.

The mentioned facilities are mainly provided for renewing machinery, equipping production units, or completing semi-finished projects.

The mentioned program was kicked off in February 2019 and since then over 12,124 production units and SMEs have registered for receiving the mentioned loans.

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According to the data provided by the Central Bank of Iran (CBI), the country’s banking system paid 12.633 quadrillion rials (about $45.69 billion) of facilities to various economic sectors in the previous year’s first nine months.

As reported, working capital loans paid to different economic sectors in the mentioned nine months were above 13.424 quadrillion rials (about $48.54 billion), accounting for 66.5 percent of the total provided facilities.

During the said period, the country’s mining and industry sector received over 4.834 quadrillion rials (about $17.48 billion) in the form of working capital loans, accounting for 79.2 percent of the total such facilities.

Iranian banks paid 17.274 quadrillion rials (over $62.4 billion) of facilities to domestic economic sectors in the first eight months of the current Iranian calendar year (March 21-November 21, 2021), which was also 59.2 percent more than the figure for the same period in the previous year.

Based on CBI data, working capital loans paid to different economic sectors in the mentioned eight months were above 11.48 quadrillion rials (about $41.51 billion), accounting for 66.5 percent of the total provided facilities.

Over the past three years, CBI has been collaborating with the Industry, Mining, and Trade Ministry for implementing a program based on which bank facilities are provided to small and medium-sized enterprises (SMEs) and semi-finished projects.

The mentioned facilities are mainly provided for renewing machinery, equipping production units, or completing semi-finished projects.

The mentioned program was kicked off in February 2019 and since then over 12,124 production units and SMEs have registered for receiving the mentioned loans.

The post Bank loans to economic sectors increase over 59% appeared first on Iran News Daily.

According to the data provided by the Central Bank of Iran (CBI), the country’s banking system paid 11.481 quadrillion rials (about $38.65 billion) of facilities to various economic sectors in the previous year’s first eight months.

As reported, working capital loans paid to different economic sectors in the mentioned eight months were above 11.48 quadrillion rials (about $38.6 billion), accounting for 66.5 percent of the total provided facilities.

During the said period, the country’s mining and industry sector received over 4.069 quadrillion rials (about $13.7 billion) in the form of working capital loans, accounting for 35.4 percent of the total such facilities.

Back in November, the CBI had announced that 14.828 quadrillion rials (over $49.92 billion) of facilities were paid to domestic economic sectors in the first seven months of the current Iranian calendar year (March 21-October 22), to register a 58.5-percent rise from the same period in the previous year.

According to CBI, the country’s banking system offered 18.989 quadrillion rials (about $63.93 billion) of facilities to domestic economic sectors in the previous Iranian calendar year of 1399 (ended on March 20), 94.8-percent more than the figure for its preceding year.

CBI has defined supporting production as one of its major plans over the past two years.

Former CBI Governor Abdolnaser Hemmati had repeatedly stressed that supporting production units to flourish production is the priority of the country’s banking system.

In early May 2019, Hemmati had outlined CBI plans for neutralizing or relieving the impact of U.S. sanctions on the country’s economy and mentioned providing liquidity and working capital to maintain and boost domestic production as one of those plans.

CBI’s plans take two major approaches, one of which is to secure finance for production activities and also to provide the working capital needed for such activities.

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According to the data provided by the Ministry of Industry, Mining and Trade, the country’s service sector received over 6.41 quadrillion rials (about $152 billion) of the loans, accounting for 43.2 percent of the total facilities.

The industry and mining sector received 4.397 quadrillion rials (about $104 billion) to have a 29.7-percent share in the total facilities, followed by the business sector with 2.232 quadrillion rials (about $53 billion) equaling 15.1 percent share.

The agriculture, the housing, and the construction sectors, also received 1.03 quadrillion rials ($24 billion), 757.4 trillion rials (about $18 billion), and 5.1 percent of the total facilities, respectively.

Based on the mentioned data, the facilities paid by the banks and credit institutions to the industry and mining sector in the mentioned seven months grew by 67.2 percent compared to the previous year’s same period, while the figure also increased by 66.6 percent for the agriculture sector, 58 percent for the housing and construction sector, and finally by 30.1 percent for the commercial sector.

In recent years, the Central Bank of Iran (CBI) has defined supporting production as one of its major plans.

In May 2019, former CBI Governor Abdolnaser Hemmati, outlined plans for neutralizing or relieving the impact of U.S. sanctions on the country’s economy and mentioned providing liquidity and working capital to maintain and boost domestic production as one of those plans.

CBI’s plans take two major approaches, one of which is to secure funds for production activities and also to provide the working capital needed for such activities.

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According to the data provided by the Central Bank of Iran (CBI), banks had paid 5.952 quadrillion rials (about $141.7 billion) of facilities to various economic sectors in the previous calendar year’s first five months.

As reported, working capital loans paid to different economic sectors in the mentioned five months were above 6.103 quadrillion rials (about $145.3 billion), accounting for 67.8 percent of the total provided facilities.

During the said period, the country’s mining and industry sector received over 2.191 quadrillion rials (about $53.185 billion) in the form of working capital loans, accounting for 35.9 percent of the total such facilities.

Back in July, the CBI had announced that over 4.976 quadrillion rials (over $118.4 billion) of facilities were paid to various economic sectors in the first three months of the current Iranian calendar year (March 21-June 21), registering a 71.3-percent rise from the same period in the previous year.

According to CBI, the country’s banking system offered 18.989 quadrillion rials (about $452.1 billion) facilities to domestic economic sectors in the previous Iranian calendar year of 1399 (ended on March 20), 94.8-percent more than the figure for its preceding year.

CBI has defined supporting production as one of its major plans over the past two years.

Former CBI Governor Abdolnaser Hemmati has repeatedly stressed that supporting production units to flourish production is the priority of the country’s banking system.

In early May 2019, Hemmati had outlined CBI plans for neutralizing or relieving the impact of U.S. sanctions on the country’s economy and mentioned providing liquidity and working capital to maintain and boost domestic production as one of those plans.

CBI’s plans take two major approaches, one of which is to secure finance for production activities and also to provide the working capital needed for such activities.

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According to the data provided by the Central Bank of Iran (CBI), banks had paid 2.5 quadrillion rials (about $59.5 billion) of facilities to various economic sectors in the previous calendar year’s first four months, IRNA reported.

As reported, working capital loans paid to different economic sectors in the mentioned four months were about 4.794 quadrillion rials (about $114.14 billion), accounting for 68.4 percent of the total provided facilities.

During the said period, the country’s mining and industry sector received over 1.717 quadrillion rials (about $40.8 billion) in the form of working capital loans, accounting for 35.8 percent of the total such facilities.

Back in July, the CBI had announced that over 4.976 quadrillion rials (over $118.4 billion) of facilities were paid to various economic sectors in the first quarter of the current Iranian calendar year (March 21-June 21) to register a 71.3 percent rise compared to the same period in the previous year.

According to CBI, the country’s banking system offered 18.989 quadrillion rials (about $452.1 billion) facilities to domestic economic sectors in the previous Iranian calendar year of 1399 (ended on March 20), 94.8-percent more than the figure for its preceding year.

CBI has defined supporting production as one of its major plans over the past two years.

In early May 2019, Former CBI Governor Abdolnaser Hemmati had outlined CBI plans for neutralizing or relieving the impact of U.S. sanctions on the country’s economy and mentioned providing liquidity and working capital to maintain and boost domestic production as one of those plans.

CBI’s plans take two major approaches, one of which is to secure finance for production activities and also to provide the working capital needed for such activities.

The post Bank loans to economic sectors up over 280% appeared first on Iran News Daily.

The mentioned facilities, which are provided for renewing machinery, equipping production units, or completing semi-finished projects, have been paid in the form of bank loans to 917 projects and production units, IRIB reported.

The program for offering bank facilities to SMEs and semi-finished projects was kicked off in February 2019 by the Industry Ministry in collaboration with the Central Bank of Iran (CBI).

According to the Industry Ministry data, under the framework of the mentioned program 2,023 SMEs and semi-finished projects in 31 provinces registered to receive facilities in the said quarter.

***Over $259m paid to export companies in Q1

The Iranian banking system has also paid 10.891 trillion rials (about $259.3 million) of facilities to export-oriented production units during the said three months, according to the Industry, Mining, and Trade Ministry’s data.

The mentioned facilities have been paid to 56 such companies in the mentioned period.

Based on the mentioned data, 51 exported-oriented companies have also been introduced to banks to receive 12.704 trillion rials (about $302.4 million) of facilities in the near future.

As reported, over 23.422 trillion rials (about $557.6 million) of facilities have been paid to export-oriented companies in the 13-month period from May 21, 2020, to June 21, 2021.

Promoting exports in line with the support of domestic production has been one of the main strategies of the Ministry of Industry over the past two years.

In this regard, the trade policies of the ministry for the current Iranian calendar year (started on March 21), which is named the year of “Production: Support and Elimination of Obstacles”, have been mainly focused on the development of production, employment and development of non-oil exports and eventually entering new markets.

According to the latest CBI data, the Iranian banking system paid 4.976 quadrillion rials (over $118.4 billion) of facilities to domestic economic sectors in the first three months of the current Iranian calendar year, registering a 71.3-percent rise from the same period in the previous year.

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According to the data provided by the Central Bank of Iran (CBI), banks had paid 2.71 quadrillion rials (about $49.32 billion) of facilities to various economic sectors in the previous calendar year’s first quarter.

As reported, working capital loans paid to different economic sectors in the mentioned three months were above 3.466 quadrillion rials (about $82.53 billion), accounting for 69.6 percent of the total provided facilities.

During the said period, the country’s mining and industry sector received over 1.269 quadrillion rials (about $30.23 billion) in the form of working capital loans, accounting for 36.6 percent of the total such facilities.

Back in June, the CBI had announced that over 2.74 quadrillion rials (over $65.2 billion) of facilities was paid to various economic sectors in the first two months of the current Iranian calendar year (March 21-May 21), registering a 46.6-percent rise from the same period in the previous year.

According to CBI, the country’s banking system offered 18.989 quadrillion rials (about $452.1 billion) facilities to domestic economic sectors in the previous Iranian calendar year of 1399 (ended on March 20), 94.8-percent more than the figure for its preceding year.

CBI has defined supporting production as one of its major plans over the past two years.

Former CBI Governor Abdolnaser Hemmati has repeatedly stressed that supporting production units to flourish production is the priority of the country’s banking system.

In early May 2019, Hemmati had outlined CBI plans for neutralizing or relieving the impact of U.S. sanctions on the country’s economy and mentioned providing liquidity and working capital to maintain and boost domestic production as one of those plans.

CBI’s plans take two major approaches, one of which is to secure finance for production activities and also to provide the working capital needed for such activities.

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