TEHRAN - Iranian banking system paid 380.893 trillion rials (about $780 million) of facilities to knowledge-based companies in the first two months of the current Iranian calendar year (March 20-May 21), to register an over 100 percent rise compared to the same period in the preceding year.

According to the Central Bank of Iran (CBI), 83 percent of these facilities were granted by non-government banks, and the share of government banks was 17 percent, specialized banks 4.8 percent, and commercial banks 12.2 percent.

As reported, during the mentioned two months 2,632 loans were paid to 928 companies.

The Iranian banking system has paid 7.2 quadrillion rials (about $14.4 billion) of facilities in the first two months of the current Iranian calendar year (March 20 -May 20, 2024), registering a 36.2 percent rise from the figure in the same period of the previous year, the Central Bank of Iran (CBI) announced.

As Mehr News Agency reported, of the total facilities, 5.7 quadrillion rials (about $11.4 billion) equivalent to 79.3 percent, was paid to the business owners (real and legal), and 1.4 quadrillion rials (about $2.9 billion) equivalent to 20.7 percent, to the final consumers (households).

The Islamic Republic has developed plans to support and empower knowledge-based companies as a step forward to materialize the goal of the year which is “Knowledge-based Production and job creation” as the economy is fighting the U.S. sanctions.

The law for promoting and supporting knowledge-based companies was approved by the Majlis (Iranian parliament) in 2010, paving the way for a jumpstart in the march toward scientific progress.

Over the past couple of years, the concept of ‘knowledge-based company’ has changed to ‘knowledge-based society’, meaning that supporting knowledge-based companies will lead to many social and economic advantages for the public.

The number of knowledge-based companies has increased from around 50 in 2013 to more than 5,700 in the previous Iranian calendar year.

Currently, many knowledge-based companies are active in different fields, ranging from information and communication technology to health, agriculture, and energy.

Various knowledge-based companies have made advancements in different fields, however, the level of progress in the fields of health, ICT, agriculture, and energy has been more noticeable. Of course, other sectors such as the automotive industry have removed many bottlenecks so far.

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