[Translator’s notes appear in square brackets]

[Personal information has been redacted.]

[The excerpt below is from the section of the article that pertains to the Baha’i Faith]


[Newspaper:] Kayhan

[Date:] Saturday 22 Ordibehesht 1358 -15 [14] Jumada ath-Thani 1399 - [12 May 1979]

[Issue No.:] 10704

[Page:] 8


Islamic Bank Will Give Loans to Religious Minorities and Political Groups

The spokesperson of the Islamic Bank of Iran said, “The underwriting contract of this bank will be announced on 27 Ordibehesht [17 May] to coincide with commemoration of the anniversary of the birth of Fatimah Zahra (may God’s peace be upon her) and will continue for eight days, from the 1st to the 9th of Khordad [22 to 30 May]. This will take place at the Melli Bank branches nationwide and also overseas.”

This spokesperson denied the rumour that a businessman had offered to purchase 500m tumans [worth of] shares of the Islamic Bank of Iran, and said that various classes of people have welcomed the establishment of the Islamic Bank in different ways; one person who attended the temporary office of the bank even offered to donate to this bank a house of his in Hasanabad, or its equivalent value in cash, in order to help the poor.

Types of Loan

As for different types of loan, he said, “This bank offers two types of loan to applicants; one is a consumer loan such as a home loan to the needy and low income earners, or a marriage loan and the like, which will be interest free. The other will be a line of credit and investment loans which will be given to applicants who are business owners and merchants. This type of loan will be in the form of a partnership, profit and loss sharing, or [a loan for] farming. The percentage of bank charges for currency transactions and homes of the poor will be different. Of course, utmost care will be taken in granting loans, and the usage of the loans may even be supervised. The Islamic Bank of Iran’s loans will be given to all the people of Iran without exception, and religious minorities [for] Jewish, Christian and Zoroastrian [customers] and loans to minorities may be a priority. Islamic Bank will even give loans to political groups.”