Title: National Bank of Iran Launches “Kalapi” Credit Scheme to Boost Household Purchasing Power
In a significant move to enhance domestic economic vitality, the National Bank of Iran has introduced a new credit facility, the “Kalapi” managed credit card. This initiative is designed to streamline the purchase of goods and services for citizens, offering a structured, installment-based payment system without the need for substantial initial capital.
A New Tool for Economic Empowerment
The Kalapi scheme is positioned as a strategic instrument to strengthen household purchasing power, support domestic production, and increase financial circulation within the national economy. By enabling easier access to credit, the plan allows customers to acquire essential goods and services from approved vendors and pay for them over time, bypassing the lengthy procedures often associated with traditional cash loans.
Key Features of the Kalapi Credit Plan
The National Bank has outlined the following core specifications for the new facility:
- Facility Name: Kalapi (Managed Credit Card)
- Purpose: Purchase of goods and services
- Maximum Loan Amount: 200 Million Tomans
- Minimum Loan Amount: 1 Million Tomans
- Annual Profit Rate: 23%
- Repayment Period: 12, 18, or 24 months
- Required Account: A Qard-al-Hasanah (interest-free loan) account or any active account with the National Bank.
For instance, a customer receiving the full 200 million Toman loan with a 24-month repayment term would have a fixed monthly installment of approximately 10.47 million Tomans.
Streamlined Access and National Development Goals
The rollout of the Kalapi card underscores a focus on financial inclusion and technological advancement within the country’s banking sector. The application process is digitized, requiring applicants to calculate their needed amount based on repayment capacity, undergo a credit rating check through the bank’s system, and provide necessary guarantor information. Upon approval, the card is dispatched to the applicant within a week.
This initiative aligns with broader national objectives to modernize financial tools and provide tangible support to salaried employees and middle-class families, facilitating their access to necessary commodities.
Guarantee Mechanisms and Vendor Network
To ensure accessibility, the bank offers two primary guarantee methods: an official guarantor with a verified banking history, or a digital credit assessment based on the applicant’s rating from the central bank’s system. Individuals with high credit scores can access the facility without an official guarantor.
The Kalapi card is currently valid exclusively at a wide network of pre-contracted retail centers, with plans to expand its usability to online stores in a subsequent phase. This controlled network ensures the scheme’s integrity and direct contribution to the formal economy.
The National Bank of Iran’s Kalapi credit plan represents a forward step in the evolution of Iran’s retail finance landscape, offering a structured and accessible tool designed to meet the economic needs of its citizens.