Iranian banking system provides USD3.152B in loans to knowledge-based firms

(MENAFN) In the first seven months of the current Iranian calendar year (March 20–October 21), the Iranian banking system provided a total of 1.891 quadrillion rials (approximately USD3.152 billion) in loans to knowledge-based companies. This marks a significant 47.7 percent increase compared to the same period in the previous year. The Central Bank of Iran (CBI) reported that these facilities were disbursed in the form of 12,912 loans to over 2,134 knowledge-based companies.

The growth in financial support to knowledge-based companies was also evident in the first half of the year (March 20–September 21), where loans amounted to 1.599 quadrillion rials (about USD2.665 billion). This represented a 52.8 percent increase compared to the same period last year. During this period, 10,793 loans were granted to 1,998 companies.

In the previous Iranian calendar year, Iranian banks provided 2.7 quadrillion rials (approximately USD4.5 billion) in loans to more than 2,930 knowledge-based companies. The steady increase in financial support is reflective of the rapid expansion and progress in the sector.

The significant growth in the number of knowledge-based companies—over 200 percent in just the past year (March 2023–March 2024)—highlights the solid foundation, dynamism, and innovation-driven development in Iran. This surge aligns with the country's broader goal of enhancing domestic production and fostering public participation in technological advancement.

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