Banks are expected to help with mortgage loans

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Lending to develop the housing sector and help people buy housing will skyrocket in fiscal 2022, the MP said.
According to the budget rules for 2021-2022, Iranian banks are required to inject 1,600 trillion riyals ($ 6 billion) to help home buyers, Mojtab Yousefi said.
“Banks can provide housing loans equivalent to 20% of the total amount of loans in the current financial year,” – quoted him as IRNA.
If realized, the housing sector could grow significantly compared to last year, when housing loans accounted for less than 7% of the total volume of loans issued by banks.

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