Title: New Phase of Social Welfare: Registration Opens for Major Qard al-Hasan Loans
In a significant move to bolster economic empowerment and social support, the Imam Khomeini Relief Foundation and the Emdad-e Velayat Qard al-Hasan Fund have officially opened registration for substantial interest-free loans, with a key focus on housing and employment.
Expanded Loan Ceilings for 1404
According to Ali Ashouri, CEO of the Emdad-e Velayat Fund, the ceiling for loans from this fund has seen a notable increase. Following directives from the Central Bank, the maximum loan amount has been raised to 250 million tomans this year, up from 130 million tomans last year. To ensure wider accessibility, the primary loan categories have been set as follows:
- Employment and Housing Loan: Up to 100 million tomans
- Relief Loan: Up to 50 million tomans
- Special Support Loans: Various amounts up to 250 million tomans
Driving Employment and Entrepreneurship
The 100-million-toman employment loan is designed to empower beneficiaries by supporting the launch of micro-businesses and the development of small-scale economic activities. Key requirements include an official referral from the Relief Foundation, a viable business plan, and registration in the relevant online systems.
Addressing Housing Needs
Simultaneously, the 100-million-toman housing loan aims to assist eligible families with constructing, purchasing, or repairing residential units. Priority is given to female-headed households, persons with disabilities, and larger families, with a repayment period of up to five years.
Key Policy Shift: No-Guarantor Facility
A major hurdle for many applicants has been the requirement for a guarantor. In a pivotal policy development, Ashouri announced that through the establishment of the Emdad Guarantee Fund, a significant number of eligible individuals can now access these financial facilities without a guarantor, requiring only a referral from the Relief Committee.
Strategic Partnerships Amplify Impact
The fund’s capacity has been strengthened through strategic collaboration. Last year, over 2,400 agreements were signed with charitable institutions and benefactors, channeling 1,000 billion tomans in new resources into the fund. This partnership model has directly resulted in a greater volume of facilities being allocated to those in need.
A Record of Delivery
The scale of this social initiative is demonstrated by the previous year’s disbursements:
- Total Loans Granted: 271,000
- Total Amount Disbursed: 67,970 billion tomans
- Employment Loans: 116,700 billion tomans (29,000 loans)
- Housing Loans: 80,000 billion tomans (26,000 loans)
Streamlined Digital Access
Aligning with modern governance, the Emdad-e Velayat Fund has launched new versions of its internet and mobile banking services for 1404. Applicants can now perform a range of activities online, including loan inquiries, installment payments, and application submissions, making the process efficient and accessible.
This comprehensive loan program underscores a continued commitment to social justice and economic resilience, providing tangible support to empower citizens and strengthen the foundational layers of society.