For the First Time, 'Electronic Promissory Notes' and 'Qestio' Implemented to Finance Production in Tabriz

Mehdi Najafi, founder of the Irsa Group, stressed that Qestio and electronic promissory notes provide an operational platform for facilitating working capital financing for industrial units and their supply chains, and that launching the Tabriz office will speed up direct access for the region's economic actors to these services.

Mehdi Najafi, the founder of Irsa Group and Qastiyo Platform, announced the serious arrival of new financial tools in East Azerbaijan at the "New Solutions for Financing the Production Chain" held in cooperation with Bank Mellat and Azerbaijan Steel Association and said: Tabriz office of Irsa Group will be launched within the next month.

Referring to the inflationary conditions and working capital bottlenecks of industrial and commercial units, Najafi introduced Kastio as an online financial service that provides digital payment infrastructure, financial operations and access to credit tools for businesses. According to him, this platform, which is available through an address, can be a breakthrough for many companies in the current situation.

In describing the details of the electronic bill of lading, the founder of Qastiyo said: This tool makes it possible to commit to pay in the future and finance production chain transactions, and its payment on maturity is guaranteed by the operating bank. In the electronic bill of exchange, there is a possibility of pre-maturity discount with a quarter of the due date or two transfers in the chain, and the discount rate is similar to the purchase of debt, which is very affordable for manufacturers and artisans. The fee for issuing an electronic bill of exchange, which is available to economic operators in cooperation with Bank Mellat, is similar to a bank guarantee equivalent to 25.2%, and the buyer can receive the goods or raw materials today with the credit approved by Bank Mellat and pay at the due date; Without prepayment such as letter of credit (LC) on the shoulders of the manufacturer or merchant. There is prepayment in LC and it is difficult for many manufacturers to issue it, but there is no such restriction in electronic bill of lading.

Mehdi Najafi, the founder of Irsa Group, emphasized: Qastio and electronic bills create an operational platform to facilitate the supply of working capital for industrial units and their supply chain, and the establishment of the Tabriz office accelerates the direct access of economic operators in the region to these services.

This meeting was held with the aim of introducing new operational platforms for financing, including electronic bills, with the presence of a large number of economic and industrial activists and the director general of the governor's coordination office, the vice president of planning and investment of the provincial mining industry and trade organization, the board of directors of the Azerbaijan Steel Manufacturers Association, the board of directors of the Azerbaijan Auto Parts Manufacturing Association and members of the Tabriz Chamber of Commerce by Irsa Group and in cooperation with Bank Mellat on the evening of Saturday, October 19, 1404 at Kaya Hotel in Tabriz.

The new credit tools and electronic bills of Irsa Group are available to economic operators on the Qastio platform through an address.