Title: Iran’s Export Bank Launches Major Zero-Interest Loan Initiative for Retirees
A Strategic Move for Financial Inclusion
In a significant move to bolster financial inclusion and support key sectors of the economy, Iran’s Export Bank has unveiled a new zero-interest loan program specifically for retirees. The initiative, offering up to 55 million tomans with a 12-month repayment period, is designed to facilitate major purchases for this segment of the population. This program is a direct result of collaborative policy from the Central Bank and the Ministry of Economic Affairs and Finance, aimed at expanding micro-credits and integrating more citizens into the formal financial system.
Driving E-Commerce and Supporting Businesses
The loan scheme is operationalized through a partnership with major retail chains, including Digikala. The funds are exclusively allocated for installment purchases from a network of approximately 33 online and in-person partner stores. This strategic focus is intended to directly support businesses and strengthen the domestic e-commerce ecosystem. To ensure the integrity of the program, the bank has implemented a sophisticated digital collateral and credit scoring system, which channels the loan resources directly to the point of sale, preventing any potential misuse of funds.
Seamless Integration and Broader Financial Services
Mohsen Seeni, the CEO of Export Bank, emphasized the program’s seamless integration for retirees, many of whom already receive their pensions through the bank. He stated that this arrangement ensures a smooth and unproblematic repayment process. This initiative is hailed as an effective step in merging financial technology with established banking infrastructure, ultimately enhancing the customer experience.
Beyond this specific program, Export Bank continues to offer a range of other credit services, such as the “Sana 2” facility, which provides larger loans of up to 300 million tomans. A pioneer in developing modern financial services since its establishment, Export Bank, with its nationwide network of over 2,000 branches, remains a cornerstone in providing diverse financial solutions to the Iranian public.