The central bank announced the instructions for the loan facility for children in 1402

According to Iran Economist From the central bank, based on part (2) of paragraph (a) of note (16) of the budget law of the year 1402 of the whole country, it is established that “in accordance with the law on the protection of the family and the youth of the population and the laws related to sacrificers, from the place of deposits of Qarz al-Hasna, including the current and allocate the savings of the banking network (other than Qarz al-Hasna banks) after deducting the legal deposit to Qarz al-Hasna and through the operating banks (at the discretion of the Money and Credit Council) to pay the loan facilities as follows:

Qarz al-Hasna facilities for having children (the subject of Article 10 of the Family and Youth Protection Law)

For the children who were born after 1400, the loan facility for childbearing is paid as follows;

1- 300 million Rials for the first child

2- 600 million Rials for the second child

3- 900 million Rials for the third child

4- One billion and 200 million Rials for the fourth child

5- One billion and 500 million Rials for the fifth child and more

Based on this report, the responsibility for the good implementation of this clause rests with the central bank, banks and non-bank credit institutions, all managers and related employees. Non-implementation of any of the clauses of this note (including delay in payment of these facilities or receipt of guarantee beyond the limits of this law) is considered a violation and can be pursued in the competent authorities.

After validating the applicants for the facility referred to in paragraph “A” of this note, and in case of their lack of credit, in order to provide the guarantor, banks and non-bank credit institutions are required to validate the subsidy account or equity shares of the applicants or their first-class relatives or other his financial assets or only receiving a promissory note and a guarantor to pay the facility.

The facilities of this note are excluded from the ruling of Article (10) of the Public Service Law.

Based on this, according to the quota considered in order to pay the loan facility for the child, during April and May of the current year, relevant executive instructions will be sent to the banks.

Obviously, after the finalization of the annual quota for the payment of the said facility, the situation will be announced to the banks and credit institutions. It should be noted that applicants who have previously registered in the relevant system are given priority to pay the mentioned facilities, and the said facilities, according to the conditions of the applicant, are for all people in the queue (registered in 1402 and the previous year) in accordance with the amounts listed in The budget law of 1402 of the whole country will be payable.

At the end of this circular, it is emphasized that an arrangement should be made so that within a maximum period of one week from the date of receipt of this circular, the issue will be communicated to the relevant executive units throughout the country and a copy of the relevant notification will be sent to the Central Bank. ‏