A Tehran-based newspaper has reported an increase in demand for marriage loans, leading to longer queues of applicants, extended loan allocation times, and a decrease in the number of loan recipients. The Hamshahri newspaper, affiliated with the Tehran municipality, stated that the parliament has mandated banks to provide 200 trillion tomans in marriage loans this year, but the increase in the loan ceiling to 300 to 350 million tomans has resulted in fewer loans being granted compared to last year. Hamshahri emphasized that with the loan budget remaining unchanged, long queues for marriage loans have formed, as the demand far exceeds the allocated budget. In this context, the director general of monetary and credit operations at the Central Bank has stressed that estimates indicate that 800 trillion tomans are needed for marriage loans, while the banking network's capacity to pay is only over 300 trillion tomans. These statements by Mohammad Nadali indicate that ultimately more than 60% of marriage loan applicants will not succeed in receiving these loans. The provision of marriage loans in Iran aligns with the directives of Ali Khamenei, and the Islamic Republic has been more vigorously pursuing policies to increase marriage rates and encourage childbirth in recent years. Alongside marriage loans, housing loans are also on the agenda, but media reports indicate that these policies have been ineffective in increasing the population. According to reports, the 'Quality of Life Index,' which measures the quality of life in various domains, ranked Iran 80th out of 84 countries in 2023, and experts believe that under such conditions, households are less inclined to have multiple children. The record for divorces last year was reached in Tehran province, with 149,000 people still waiting for marriage loans despite President Raisi's 'order.' The average marriage duration in Iran has decreased, with 65,000 divorces recorded within less than five years of marriage. Population growth in Iran has approached zero amid declining quality of life. The heavy consequences of stagflation include the confirmed widespread buying and selling of 'marriage loans' by government officials. There are twelve million singles in Iran, with an increase in the age of marriage and the ineffectiveness of population growth policies.
Long Queue for Marriage Loans; No Budget for 60% of Applicants
Demand for marriage loans in Iran has surged, leading to long queues and a significant shortfall in available funding, with over 60% of applicants expected to be denied. This situation reflects broader issues in Iranian society, including declining marriage rates and increasing divorce rates. The government's attempts to encourage marriage and childbirth have not yielded the desired results.
👥 Key Players
📰 What Happened
Demand for marriage loans in Iran has surged, leading to long queues and a significant shortfall in available funding, with over 60% of applicants expected to be denied. The increase in loan amounts without a corresponding budget increase has exacerbated the issue.
- The parliament mandated banks to provide 200 trillion tomans in marriage loans.
- The banking network's capacity to pay is only over 300 trillion tomans, far short of the 800 trillion tomans needed.
💡 Why It Matters
📚 Background
Iran has been pursuing policies to increase marriage and birth rates amid economic difficulties and a declining quality of life, but these efforts have largely been ineffective.
Translated from the original and edited for English readers. View original source →
Translation confidence: 90%