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EghtesadOnline: Bank resources are insufficient to meet the high and rising demand for microloans as most of their funds are used for mandatory lending.

Banks are overstretched with the swelling demand for small loans and lack resources to meet the trend, a deputy governor of the Central Bank of Iran said.

"Bank resources are insufficient to meet the high and rising demand for microloans as most of their funds are used for mandatory lending," Abouzar Soroush, the deputy for supervisory affairs was quoted as saying by the semi-official news agency ISNA.

Despite the constraints, microcredit accounted for about  40% of total loans in the first seven months of the current fiscal year (started March 2022), Soroush said.

Microloan Demand Microloan