Firouz Financial Group unveiled a 400 million national credit program with equity collateral.

Firouz Financial Group unveiled a 400 million national credit program with equity collateral.

▫ Firouz Financial Group unveiled a system that provides the possibility of receiving credit through the verification of shares and units of investment funds; A national program that aims to link capital market assets to the daily financial needs of households.

▫ Ramin Rabei, CEO of Firoze Financial Group, referring to inflation and the negative real interest rate in the country, considered access to credit essential for Iranian households and emphasized that the goal of the program is that shareholders will not have to sell their assets to meet living expenses and will be able to meet their daily financial needs while maintaining their investments.

▫ In this system, users can receive online credit according to the value and type of their property; No checks, paper bills or bank guarantees are required. According to the announcement of Firouz Financial Group, currently 1,068 tokens can be verified on this platform.

▫ The credit received can be used in a network of contractors, including Dag Digital, Snapfood, Technolife and Talasi. This service is offered in two formats, a bank facility and a Buy Now Pay Later (BNPL) purchase credit.

▫ This plan can be a step towards expanding financing tools and increasing the efficiency of the households' financial assets; Especially for people who want to finance some of their expenses without cashing out their investments.