MEHR IRAN Bank Signs A Memorandum of Understanding (MOU) With the Iran Technologies Development Fund (ITDF)

Tehran_(PTP) QarzolHasneh (No Interest-bearing) Mehr iran (QMB) Bank and the Iran Technologies Development Fund(ITDF)signed a memorandum of agreement to increase the level of services provided to knowledge-based and technology companies. According to the inotex 2022news agency, on the first day of 11th Inotex, a bilateral memorandum of understanding was signed between QMB and the ITDF. This memorandum signed by Seyed Saeed Shamsinejad, CEO of Gharzolhasaneh Mehr iran Bank and Seyed Ruhollah Miramini, The CEO of the Iran Technologies Development Fund, laying the groundwork for using the bank's mechanized capacities of the high Technologies Development Fund in order to provide financial services to knowledge-based and technology companies. According to this MOU, the process of filing, accrediting, appraising, drawing up contracts along with recommending knowledge-based companies’ loan applicants to benefit from the services of the bank on the basis of an electronic system will be passed in ITDF’s hands , paving the way for the bank to use highly automated capacities of ITDF to provide financial services to knowledge-based companies, relying on the capacity and experience of the high Technologies Development Fund. NEW CHAPTER OF COOPERATIONS TO FUND KNOWLEDGE-BASED COMPANIES MOU The MOU between Mehr Bank and high Technologies Development Fund; Seyed Saeed Shamsinejad; CEO of QMB at the signing ceremony of this memorandum, referring to the mutual trust between QMB and ITDF said: Mehr Iran Bank had very closely scrutinized the performance of HTDF in the past years; in providing services to knowledge-based companies and small businesses and their commercialization which has led to this MOU. Referring to the significant capacities of the bank and the fund in terms of obligations of this memorandum, he added: "Qarzolhasneh Mehr iran Bank has always sought to provide interest free services to the community “the cap for job creation micro loans can provide facilities up to 500 million Tomans to legal entities in new year with the development of financing services. Shamsinejad, while emphasizing the slogan of the year and supporting of knowledge-based fields, noted: as the Supreme Leader of the Islamic Revolution (Long May His Life Continue) designated the Iranian New Year the year of production, knowledge based and job creation, we have been encouraged to partner with ITDF”. He added: "this fund has several companies’ evaluation and financial in its portfolio so far and considering the capabilities of the NTDF and the provision of interest free loan (IFL) of QMB THIS Connection can be a new chapter for Knowledge-based and technology companies’ figure. Mehr Bank Granted a 50 billion Toman facilities to the applicants on recommendation of the fund Regarding the number of facilities agreed by both sides to be granted to knowledge-based companies, the CEO of Qarzolhasneh Mehr iran Bank said: "According to this memorandum, some 100 loan items worth 500 million IR Tomans will be granted during its first phase relying on the electronic process of appraisal and accreditation of the ITDF. Referring to another issue of this Memorandum of Understanding between Mehr Iran Bank and the ITDF, Shamsi Nejad said: "One of the issues we are pursuing in this Memorandum is the digitalization of all financial and banking processes;” Accordingly, the discussion of accreditation and evaluation of companies will be implemented through the digital platform of the fund. Also, due to the shift of banking and financial processes to digitalization and virtual transaction, we can upgrade the level of digital services of Mehr Bank in partnership with the IT capacity of the ITDF ITDF is an accredited fund certified by Iran’s banking system Seyed Ruhollah Miramini; The CEO of the ITDF also emphasized the need to address the concerns of the banking system in support of knowledge-based companies and said: "venture investment is always one of the concerns of the Central Bank, and this is due to the experience of the high Technologies Development Fund." These concerns have always been successful, relying on the fund's capacity. He Presented a report on the fund's 14-years performance in providing various financial services to knowledge-based and technology companies and added: “. ITDF has become an accepted institution among the banks through 13 independent memorandums to the banking system, the guarantee and evaluation of this fund has been recognized and accepted among the banks. Miramini described the provision of various financial services as the specialty of the IRAN Technologies Development Fund and reiterated: “Providing various financial services such as guarantees, loan facilities and crowdfunding as well as insurance services, ITDF is now an accredited fund certified by Iran’s banking system in a way that our toolbox for financing is very wide-ranging as this fund ranks first among private investment funds in Iran.” During the ceremony, Mr.Mir-Amini unveiled the Virtual Counter Service of the bank. Following the ceremony, the virtual counter of Qarzolhasneh iran bank was unveiled at the high Technologies Development Fund. The 11th International Exhibition of Technology and Innovation (inotex2022) held from 10 to 13 May in Pardis Technology Park