In a new directive the Central Bank of Iran delved into the much-discussed matter of marriage loans, obliging specific agent banks in the banking system to issue 150,000 loans per month. The decision is legally binding as of July 22.�

�With regard to the importance and priority of matrimony for the younger generation and the need for loans for this purpose,� reads the directive, �form the beginning of the current calendar month [July 22], banks must issue 150,000 interest-free marriage loans each month�, the CBI website says.

According to the directive, applicants need only one guarantor to be eligible for the loan. Moreover, banks are obliged to release data plus performance reports to the CBI twice a month. The marriage loan in the past was 100 million rials ($2,800).

By Financial Tribune