The Iranian Barter Market will see sales of construction materials on credit to real-estate developers introduced by the Ministry of Roads and Urban Development as per the memorandum of understanding signed on Tuesday.
Builders who work in partnership with the ministry under the government-backed housing development project, the so-called “National Housing Initiative,” will get construction materials at a 15-30% discount on credit that could be repaid in three-year installments from the Iranian Barter Market.
According to Mahmoud Mahmoudzadeh, the head of the housing division of Roads and Urban Development Ministry, suppliers will receive a 5% commission on sales annually.
CEO of Iranian Barter Market Alaeddin Khataei said the mechanism will help factories, which are now operating at half their capacity, to increase their output and employment.
Source: Financial Tribune
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