New Financial Support Scheme Launched for Iranian Retirees and Heads of Households
In a significant move to bolster social welfare, the Bank Refah and the Future Maker Pension Fund have jointly unveiled a new financial support scheme. This initiative provides retirees and heads of households with access to substantial credit facilities, marking a key step in the nation’s ongoing social support programs.
A Simplified Financial Solution
The scheme, known as the “Welfare Card Loan,” offers credit from 10 million to 300 million tomans, with a prominent 200 million toman option. Its most notable feature is the elimination of traditional banking hurdles, as it requires no guarantor, checks, or security deposits. Repayment is seamlessly managed through a direct, 12-month deduction from the beneficiary’s pension.
Strategic Implementation and Usage
Designed for practical, immediate use, the credit is exclusively for purchasing goods and services from a network of pre-approved stores partnered with Bank Refah. This ensures the funds are utilized for essential needs, from groceries to medicine, directly supporting beneficiaries’ livelihoods.
How to Access the Scheme
The application process has been streamlined for ease of access:
- Applicants must first register their request through the Future Maker Pension Fund’s online portal.
- Upon approval, they receive an official referral letter from the Fund.
- The final step involves visiting a Bank Refah branch to activate the Welfare Card.
Key Considerations for Applicants
While the scheme is designed for broad accessibility, it operates under specific guidelines to ensure its sustainability. The credit cannot be withdrawn as cash and is only valid for one month from activation to encourage timely use. The final loan amount is determined based on the applicant’s pension, repayment capacity, and existing financial obligations.
This initiative underscores a continued commitment to enhancing the economic resilience of retirees and families, providing them with a streamlined and dignified means to meet their essential needs. For further details, potential beneficiaries are encouraged to contact the Bank Refah customer service center.