According to the Mehr news agency, citing the Vice President for Science, Technology and Knowledge-Based Economy, the issue of the individual ceiling of Qarz Al-Hosna employment creation facilities granted to knowledge-based, technological and creative companies was notified by the General Department of Monetary and Credit Operations of the Central Bank.
In this circular it is stated: Pursuant to the letter number 03/12008 dated 25/01/1403 regarding the notification of job creation facilities subject to components (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 Central Bank Supreme Board meeting dated 09/13/1403, it was decided:
1- The individual ceiling of Qarz Al-Hosna loan facilities for the employment of knowledge-based, technological and creative companies is set at the amount of 9 billion Rials (equivalent to the ceiling of Qarz Al-Hosna loan facilities for legal companies granted by Qarz Al-Hosna Banks).
2- The individual limit of Qarz Al-Hosna loan facilities for employment, creation, development 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 repayment period of the aforementioned facilities is a maximum of 48 months.
On this basis, please order to inform the relevant executive units to take the necessary measures within the framework of the relevant banking rules and regulations.
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