Fees and fines for farmers affected by natural disasters were forgiven

The Central Bank announced the waiver of fees and late fines for farmers affected by natural disasters and the postponement of the principal of their loans up to 30 thousand billion Rials for 3 years.
According to Dehghan News, quoted by Tasnim, Mohammad Nadali, Director General of Monetary and Credit Operations of the Central Bank Credit Department, sent a letter to the managers of various banks and announced that interest, fees and late fines for all agricultural sector beneficiaries damaged by unforeseen events, especially drought and flood, from the beginning of 2014 to the end of 2014, and the principal of the facility up to 30 thousand billion Rials, have been postponed for 3 years.

The description of this letter is given below.

Hereby, Clause D of Note 16 of the Budget Law of 1402 of the whole country is notified as follows: The operating banks are obliged to waive interest, fees and late fines for payment facilities from the beginning of 1394 to the end of 1402 to all agricultural sector beneficiaries (activists of the agricultural sector in the fields of agriculture, horticulture, greenhouses, livestock and poultry, aquatics, nomads, transformation and complementary industries, and mechanization) damaged by unforeseen events. Especially drought and flood, the action and principle of facilities up to 30 thousand billion Rials should be postponed for 3 years.

The financial burden caused by the implementation of this clause is guaranteed by the country's program and budget organization, the central bank is obliged to submit a report on the performance of this clause once every three months to the program and budget commissions of calculations, economy, agriculture, water, natural resources and environment of the Islamic Council.

The guarantee letter and relevant implementation instructions will be sent subsequently; Please order that the situation be communicated to the relevant executive units for the appropriate benefit.