Obstacles to paying loans for marriage and having children will be removed

According to Iran Economist, the representatives of the Islamic Council approved the details of the two-urgent plan to add an article to the law on the protection of the family and the youth of the population in a public meeting this morning (Tuesday).

Single Article- An article as follows is added as Article (71) to the Family and Youth Protection Law approved 24/07/1400:

“Repeated Article 71 – In order to remove obstacles to receiving facilities or privileges subject to this law:

A- In the implementation of the articles of this law regarding the use of privileges and facilities, with the aim of encouraging childbearing, marriage and housing deposit, if according to certain laws, the payment of these facilities or the provision of privileges is deferred to comply with certain conditions or is subject to prohibition. Therefore, banks and credit institutions are obliged to grant the above facilities and privileges only in compliance with this law.

B- If the applicants subject to this law have fixed tax debt or non-current debt to banks and non-banking credit institutions or have bounced checks, the banks and credit institutions are obliged to provide the facilities subject to this law upon the applicant’s request after settlement of at least fifty percent (50 %) to pay the aforementioned debts and obligations from the location of this facility. The executive instructions of this paragraph will be prepared and communicated by the Central Bank of the Islamic Republic of Iran three months after the entry into force of this law.

C- Banks and non-banking credit institutions are obliged to give priority to the payment of the facilities of this law over other legal duties, and regarding the demand for collaterals and guarantees, with the priority of validating the subsidy account of individuals or other financial assets of individuals, including shares accepted in The capital market operates with only one promissory note.