THE LAUNCH OF THE SOFT LOANS WILL ELIMINATE UNEMPLOYMENT

SPECIALISTS ASSERT: THE LAUNCH OF THE SOFT LOANS WILL ELIMINATE UNEMPLOYMENT

October 1, 2015

BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - specialists in the Iraqi Central Bank confirmed that the launch of the loans will contribute significantly to the elimination of a high rate of unemployment.

The central bank held a workshop to launch the loans to citizens of different segments, in order to complete the small and medium enterprises.

The head of the Association of Banks and Wadih Nuri's (IMN) "This workshop is supportive of the economy in Iraq, where you will spend a high percentage of unemployment, and support for small and large projects," noting that "the interest of these loans rate of 1 percent."

He added that "the central bank has a large and powerful step to support and stimulate economic development, and that the benefit will be the largest private banks," noting that "these loans will be spent during the short period of time."

For its part, adviser circle credit Shaima good Kazim said for (IMN) that "after this announcement will meet with the Central Bank of licensed banks by the Bank, through the provision of small and medium enterprises papers, and then will be querying the loan providers through banks in terms of know your customer" , pointing out that "this process will take place during ten days."

In turn, said assistant general manager observer banking and credit Alaa Abdul Ghani Mustafa's (IMN) that "these loans are given opportunity to all citizens, the unemployed and the owners of the various professions and crafts."

He pointed out that "these loans ranging from one million to 50 million dinars, and the donor banks to loan the query of who wants to take advantage of the loan."

The banks in the past you get the benefit for loans ranging from 12 to 18 percent annually.

From: Qusay al-Asadi, editor: Mushtaq Feeli

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