- Bank Maskan—Iranian major bank in financing house buyers—has announced plans to offer construction loans to those who happen not to have the necessary initial deposit with this large lender in the sector, as a compulsory prerequisite, said Mohammad Hashem Botshekan, Maskan’s CEO. He also stressed that the Monetary and Credit Council has authorized the bank to fund 80% of the construction projects. Botshekan went on to say that potential takers of these facilities in urban areas with more than 200,000 residents are allowed to borrow between $31,000 to $ 37000, Botshekan added. Other plans, namely, to finance around 80% of qualified SMEs expenses, active in the business, assisting manufacturers producing raw materials such as cement, steel and tiles, via using credit lines and employing new financing methods, for instance, by issuing Islamic bonds and sukuks– by the end of the fiscal year (March 20, 2017) — are among other measures to be taken for the sector to get revved up after years of being stuck in deep recession. Repayment guarantees to builders, intending to sell their property on installment policies, provided that the amount is less than $4300, is another step by the banker to help boost transactions in the housing sector.