Sepe Bank was placed at the top of the table of payment facilities without guarantor among the country’s banks

According to the financial financial news report, quoted by the Economic and Finance News Network, “Seyd Ehsan Khandozi”, the Minister of Economic Affairs and Finance, from the end of December, required the state-owned banks to only use validation as the payment criterion in the payment of facilities of less than 100 million Tomans, and from The traditional way of asking the guarantor to give up.

In fact, the guarantor-based facility payment system has been obsolete for many years in many countries, and the basis for granting microloans is the individual’s credit in the banking network. This validation is calculated based on the individual’s credit history in terms of facility repayment, facility balance, monthly income, and other such matters.

Although the central bank issued the relevant circular to the banking network on July 12, but the state banks have put the granting of facilities without guarantor and based on validation on the agenda since the beginning of February 1400.

In this regard, from the beginning of February last year to the end of July this year, 15 thousand 931 billion 632 million Tomans of facilities have been paid in the form of 475 thousand 448 items of facilities by state banks.

According to this table, the largest facilities without guarantor were paid by Bank Sepeh with 5 thousand 380 billion tomans for 195 thousand 977 facilities. In fact, 33.7% of the total payment facility without guarantor was made by Sepeh Bank.

The reason for the low share of 100 million tomans micro-facilities without guarantor in Sanat Madan Bank is the development of cooperatives and agriculture, the specialization of these banks and the small share of micro-loans from the total granted facilities.

According to the financing structure and the formation of the facility structure with one or two guarantors, replacing it with the system of granting facilities based on validation will be a time-consuming process, and in a period of time, it can gradually increase the share of granting facilities based on validation from the total granted facilities. This movement was started voluntarily by the Ministry of Economy without the requirement of the law, and it is hoped that this process will gradually become a prevailing situation for all types of banking facilities.