Iranian parliament ratifies plan to write-off interest on some loans

The parliament (Majlis) has passed a law requiring Iran's central bank to write-off interest payments on certain loans under 1 billion Rials in values.

Iran Press/Iran news: Iranian lawmakers in the Parliament (Majlis) while discussing the next year's budget bill in Sunday's open session, agreed to an addendum by Tabriz, Osku and Azarshahr MP, Mohammad Hussein Farhangi.

According to an Iran Press report, the addition of a clause to article 16 of the bill means any write-off of interest payments on a loan under 1 billion Rials will be subject to full repayment of the actual loan by the borrower.

Sunday session was the eighth session in which the Majlis reviewed next year's budget.

The open session on Sunday morning was chaired by First Deputy Speaker of parliament, Masoud Pezeshkian. However, the budget 2019 review process will be on the agenda of the Majlis for some time.

There have been 14 parliamentary sessions dedicated to next year's budget since last Saturday.  104/211/203

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Iranian Parliament reviews budget bill in open session