According to the Mehr news agency, citing the Vice Preside for Science, Technology and Knowledge-Based Economy, the issue of the individual ceiling of Qarz Al-Hosna employme creation facilities graed to knowledge-based, technological and creative companies was notified by the General Departme of Monetary and Credit Operations of the Ceral Bank.
In this circular it is stated: Pursua to the letter number 03/12008 dated 25/01/1403 regarding the notification of job creation facilities subject to compones (3) and (4) of paragraph (b) of note (2) of the budget law of 1403, it is hereby informed according to paragraph ( 2) From the minutes of the Ceral Bank Supreme Board meeting dated 09/13/1403, it was decided:
1- The individual ceiling of Qarz Al-Hosna loan facilities for the employme of knowledge-based, technological and creative companies is set at the amou of 9 billion Rials (equivale to the ceiling of Qarz Al-Hosna loan facilities for legal companies graed by Qarz Al-Hosna Banks).
2- The individual limit of Qarz Al-Hosna loan facilities for employme, creation, developme and production projects of knowledge-based companies is equal to 30 billion Rials (increased by 20% up to the limit of 50 billion Rials for each elite member of the National Elite Foundation).
3- The repayme period of the aforemeioned facilities is a maximum of 48 mohs.
On this basis, please order to inform the releva executive units to take the necessary measures within the framework of the releva banking rules and regulations.
