Eight banks including Sarmayeh Bank, Qarz al-Hassaneh Resalat Bank, Export Development Bank of Iran, Iran-Zamin Bank, Tejarat Bank, Tose'e Ta'avon Bank, Tourism Bank, and Maskan Bank have failed to fulfill their legal commitments in the area of marriage and childbirth loans. According to supervisory reports, these banks have achieved less than 40% of the approved quotas in this area, indicating a serious imbalance in the country's banking system.
Poor Performance Indicates Neglect of Supportive Policies
According to evaluations by economic inspection authorities, the performance of the aforementioned eight banks in the categories of marriage and childbirth is so poor that it places them among inefficient entities. This failure is viewed not only as an administrative issue but also as a significant challenge for economic and social policymakers. Currently, over one million applicants are in long queues waiting for marriage and childbirth loans, which exacerbates the depth of the credit imbalance crisis in the country.
Read more: Forecast of 13,000 tons of pomegranate exports from Bagmalek by the Agricultural Jihad
Social and Economic Consequences of Banks' Failures
The commitments of the first six months of the fiscal year, if not fulfilled, especially in the second half of the year when banks face additional pressure from year-end settlements, will be severely affected. This situation leads to increased financial pressure on more disciplined banks and creates a deadlock in the population policy-making process. According to statistics, over 470,000 young applicants are waiting for marriage loans, and more than 500,000 families are left in limbo for childbirth loans.
Analyses show that the average absorption and allocation of resources by other banks in the marriage loan sector has reached 77%, and in the childbirth sector, it has reached 61%. However, the stagnation of the childbirth loan fulfillment rate at 61% indicates the overall banking system's reluctance towards low-interest and long-term loans. This situation, especially in the current economic conditions, undermines public trust in the government's supportive policies and brings more problems for applicants.
Read more: Energy management of Varkhodro Chaharmahal reduced costs by 234 billion rials · Removal of subsidized gasoline quotas for vehicles over 20 years old is on the government's agenda
