Title: Iran Expands Marriage Support: New Credit Card Initiative to Ease Access to Household Goods
In a significant move to bolster its national population and family support policies, the Central Bank of Iran (CBI) has announced a major allocation for marriage loans and is finalizing a novel credit card scheme to facilitate the purchase of domestically-produced household appliances.
Substantial Financial Commitment
Ms. Sara Jalali, an official from the CBI’s Credit Operations Department, detailed the institution’s commitment. She confirmed that for the current Iranian year (1404), a substantial 200 trillion tomans have been earmarked specifically for interest-free marriage loans (Qard-al-Hasanah). These funds are drawn from the existing pool of benevolent resources within the banking network, which includes public savings and current accounts, as well as repayments from previously granted facilities.
Innovative Credit Card Scheme
Addressing the high demand for these loans, which has led to waiting lists, Ms. Jalali highlighted a new proposal under expert review by the CBI and the Parliament. The initiative involves providing eligible applicants with specialized credit cards. These cards would be dedicated solely to purchasing home appliances from Iranian manufacturers, offering a direct and efficient alternative to traditional cash loans.
“We are hopeful that the implementation of this plan will begin from the start of the next Iranian month (Azar),” Jalali stated. She added that if the scheme is well-received, it could be expanded to cover the entire marriage loan program, with necessary negotiations underway for a projected rollout by the end of Azar.
Sustaining a Key National Policy
The official provided context on the scale of the program, noting that since the enactment of the Youthful Population Law, approximately 650 trillion tomans in marriage loans have been disbursed to 3.5 million applicants. To date, over 87% of applicants have successfully received their facilities, with efforts ongoing to clear the remaining waiting list by the end of the current year or early next year.
Jalali explained that the resources for these facilities are derived from public benevolent deposits, which inherently limits the banking network’s capacity. Despite this, a major portion of this capacity is prioritized for marriage and childbearing loans, underscoring the national importance of the Family and Youthful Population Protection Law. The new credit card mechanism is being explored as a sustainable supplement to these existing benevolent resources.
This comprehensive approach demonstrates a continued focus on implementing supportive social policies aimed at strengthening the family foundation of the nation.
