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Explanation of the proposal to reduce the interest of the loans of the Iraqi Trade Bank DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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Explanation of the proposal to reduce the interest of the loans of the Iraqi Trade Bank

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Explanation of the proposal to reduce the interest of the loans of the Iraqi Trade Bank Empty Explanation of the proposal to reduce the interest of the loans of the Iraqi Trade Bank

Post by RamblerNash on Mon Aug 05, 2019 11:32 pm

Explanation of the proposal to reduce the interest of the loans of the Iraqi Trade Bank

Explanation of the proposal to reduce the interest of the loans of the Iraqi Trade Bank Story_img_5d4852efc2eb7

2019/8/5 19:01

(Baghdad: Al Furat News) The Central Bank of Iraq issued on Monday, clarification on the proposal to reduce the interest on some of the loans of the Iraqi Trade Bank.

The bank said in a statement that "within the framework of the government's understanding of the challenges and losses of the private sector during the past years and the delay of payment of dues for several years, several decisions were issued by the Council of Ministers on directing government banks not to meet benefits to those with debts owed by the government."

The bank added that "these decisions were not implemented because the banks are operating on a commercial basis and in accordance with the requirements and standards to ensure the maintenance of its financial position and the results of its activity in accordance with international practices and standards and controls of the Central Bank of Iraq as subject to supervision and control in achieving financial stability," noting that " Remain identical to the position of the Bank of Iraq in not being able to reduce the benefits and look for a possible mechanism to implement that support. "

He continued that "the continued demand of those involved in the decisions to reconsider the benefits of their loans to implement those decisions, the meeting held with the Iraqi Trade Bank made recommendations is that if the government wishes to implement those decisions, the bank does not bear the financial consequences, but the Treasury, which is a proposal based on considerations Which are consistent with the nature of the work of banks, which are non-binding proposals and if the government wants to take them or count them. "

The bank pointed out that "the subject involves details that have been discussed during the past years and in the case of the introduction of the conditions and limits set by the Iraqi Trade Bank, so that the guidance of support for the affected already and within the criteria set by the bank for this purpose," noting that "the issue is not open to all loans They also relate to limited years. "

The bank confirmed that it and the Iraqi Bank for Trade "showed their responsibility was proposed to the banking sector and not subject to bear the consequences of the circumstances that have passed and that any consideration of those circumstances and the half affected should be done in a manner not detrimental to the interests of banks."

http://alforatnews.com/modules/news/article.php?storyid=206219
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