More than $ 3 billion in bank loans disbursed to knowledge-based companies in 3 months


TEHRAN. Iran’s banking system paid out 127.1 trillion riyals (about $ 3.02 billion) for services to smart companies during the first three months of the current Iranian calendar year (March 21 – June 21).

According to the Central Bank of Iran (CBI), the amount of these loans paid to 558 companies increased by 247.4 percent over the same period last year.

Bank Melli Iran (BMI) accounts for the largest share of paid services with 30.2 trillion riyals (about USD 719.4 million), followed by Bank Saderat Iran (BSI) with 19.7 trillion riyals (about 397.6 USD million) of the services offered.

Iranian banks paid out 191 trillion riyals (about $ 4.54 billion) for services to smart companies during the first nine months of the previous Iranian calendar year (March 20 – December 20, 2020).

The Islamic Republic has developed plans to support and empower knowledge-driven companies as a step forward towards achieving the year’s goal of “Manufacturing: Support and Remove Barriers” as the economy struggles with US sanctions.

The law on the promotion and support of knowledge-based companies was approved by the Mejlis (Iranian parliament) in 2010, which paved the way for a leap towards scientific progress.

Over the past couple of years, the concept of a “knowledge-based company” has changed to a “knowledge-based society”, which means that supporting knowledge-based companies will lead to many social and economic benefits for society.

Deputy Vice President for Science and Technology Mehdi Elyasi says the number of knowledge-based companies has increased from about 50 in 2013 to more than 5,700 in the previous Iranian calendar year.

Many knowledge-based companies now operate in areas ranging from information and communications technology to healthcare, agriculture and energy, Elyasi said.

Various knowledge-based companies have made strides in different areas, but the level of progress in health, ICT, agriculture and energy has been more visible. Of course, other sectors such as the automotive industry have already removed many bottlenecks. Currently, 40 high-tech companies with high turnover are listed on the stock exchange, explained Elyasi.


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