CBI plans to supply $7b for economic sectors via new financing methods

TEHRAN – The Central Bank of Iran (CBI) is going to provide 3.5 quadrillion rials (about $7 billion) of funds for various economic sectors in the current Iranian calendar year (started on March 20) using new financing methods.

Mehdi Sahabi, the official in charge of the CBI’s Credit Department said one of the mentioned methods is factoring contracts based on which bank guarantees are removed and replaced by the contract between the contractor and the employer.

In this regard, the contractual claims system has been launched by the CBI in collaboration with the Ministry of Finance and…