Unlocking Your Equity Shares: A Guide to Iran’s New No-Guarantor Loan Scheme
A significant financial initiative is now available to citizens holding “Saham-e Edalat” (Justice Shares), offering a streamlined path to secure a loan without the traditional requirement of a guarantor. This program represents a key development in accessible public financing.
Eligibility and Core Conditions
To benefit from this scheme, applicants must meet several primary conditions. These include possessing active equity shares, a smart national ID card, an active bank account, and prior registration with the Sejam system, the country’s integrated securities information platform.
Loan Amounts and Repayment Structure
The loan amount an individual is eligible for is directly determined by the assessed value of their Justice Shares. The structure is designed to provide substantial liquidity based on this valuation. For instance:
- Shareholders with shares valued at one million Tomans are eligible for a 25 million Toman loan, with a projected monthly installment of approximately 967,700 Tomans.
- Those holding shares valued at 500,000 Tomans can receive a 13 million Toman loan, to be repaid with monthly installments of around 503,200 Tomans.
Streamlined Registration Process
The registration for this loan is facilitated through two distinct methods to accommodate different circumstances:
- Direct Method: This requires the individual to be registered in the Sejam system and for their supervising brokerage to be one of the specified bank-affiliated brokers. A crucial condition is that the applicant must not have previously sold their Justice Shares.
- Indirect Method: In addition to Sejam registration, this method requires that the symbol of the relevant provincial investment company be active for trading on the TSETMC.com website, and the individual must have no trading restrictions on their account.
Key Features of the Loan Scheme
The program is distinguished by several notable features aimed at ease of access and convenience:
- No Guarantor Required: Eliminating a significant barrier to credit access.
- Fully Online Process: All registration steps can be completed digitally.
- Value-Based Calculation: The loan amount is set at half the value of the individual’s shares.
- Zero Interest Incentive: If the loan is settled within one month, no interest is accrued.
The provision of these facilities is typically managed through designated agent banks. It is important to note that specific details, such as the final loan ceiling or applicable profit rates, may vary depending on the chosen bank.