Iran Increases Auto Loan Cap to 320 Million Tomans for Families of Martyrs and Veterans
In a significant move to support national heroes and their families, the Central Bank of Iran has unveiled a substantial increase in the cap for Qard-al-Hassanah (interest-free) auto loans. This initiative, approved by the bank’s High Council, specifically targets the esteemed families of martyrs, veterans, and self-sacrificers (Isargaran), raising the individual loan ceiling to 320 million tomans.
A Measure of Support and Gratitude
The new policy is enacted within the framework of the national budget law for the current Iranian year (1404). Its primary objective is to facilitate access to domestically produced vehicles for these valued segments of society. By significantly boosting the financial assistance available, the measure is designed to substantially aid eligible citizens in acquiring a vehicle, easing their transportation needs and improving their quality of life.
Focus on Domestic Production
The initiative underscores a dual commitment: to honor the sacrifices of the nation’s heroes and to bolster the domestic automotive industry. The loans are expressly intended for the purchase of Iranian-manufactured cars, thereby supporting local manufacturing and economic resilience. This strategic approach aligns with broader national objectives of self-sufficiency and economic development.