Title: New Welfare Loan Initiative Launched to Support Oil Industry Retirees
In a significant move to enhance the economic resilience and social welfare of its retired workforce, a new low-interest loan scheme has been unveiled for retirees of the oil industry. The initiative, a collaborative effort between oil industry pension funds and Tourism Bank, is designed to provide substantial financial support through a fully online application process.
A Boost for Retirees’ Livelihoods
Dubbed the “Welfare Loan Scheme,” this program offers loans ranging from 200 to 300 million tomans. A key feature is its highly subsidized annual profit rate of just 4%, making it an accessible and manageable financial tool for retirees and their surviving spouses. The primary goal is to elevate living standards and bolster the economic capacity of this valued segment of the population.
Prioritizing the Most Vulnerable
A cornerstone of the scheme is its equitable, phased registration system. To ensure that support reaches those who need it most, priority in the initial phase is given to retirees receiving a lower monthly pension. This structured approach guarantees a fair and organized distribution of resources, directly targeting and assisting the more economically vulnerable retirees first.
Streamlined Online Access
The entire application process is facilitated through the comprehensive “SAMA” online system, eliminating the need for any in-person visits. Retirees can seamlessly register and submit their requests from home. After approval and verification, a bank card is issued and delivered directly to the applicant’s registered address, with subsequent steps communicated by the bank. This digital mechanism ensures a faster, more transparent, and user-friendly experience.
Expert Endorsement of Economic Impact
Economic experts have highlighted the broader benefits of the scheme. They suggest that providing such substantial loans with a minimal profit rate will effectively alleviate financial pressures on retirees. By increasing their purchasing power, the initiative is expected to contribute to reducing social inequalities and fostering greater long-term social welfare for this community.
The Welfare Loan Scheme stands as a testament to ongoing efforts to support retirees, combining significant financial aid with a low-cost repayment structure and a modern, efficient delivery system.