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Iran's First Interest-Free Bank Inaugurated
12/18/2007

The first Iranian Mehr Interest-Free Bank was inaugurated across the country in the presence of the Iranian President Mahmud Ahmadinejad.

Bank Melli Iran (BMI) is to render services of the newly inaugurated bank in 2,700 branches throughout the country.

The new bank will make a great change in the country's banking system that would allow customers to open bank accounts and get loans, interest free, the Iranian president said.

Fars News Agency, Iran, December 17, 2007

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