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The central bank issues new instructions for loans in excess of one billion dinars DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

The central bank issues new instructions for loans in excess of one billion dinars

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The central bank issues new instructions for loans in excess of one billion dinars Empty The central bank issues new instructions for loans in excess of one billion dinars

Post by claud39 Thu Mar 12, 2020 9:27 am

The central bank issues new instructions for loans in excess of one billion dinars


12/03/2020




The central bank issues new instructions for loans in excess of one billion dinars 8550


Economy News - Baghdad:

The Central Bank of Iraq issued new instructions for loans in excess of one billion dinars .
A bank statement received by "Al-Iqtisad News" stated that "with the aim of moving the wheel of the Iraqi economy and supporting productive projects, the Central Bank of Iraq issued new instructions concerning loans that exceed one billion dinars within the initiative (one trillion dinars) to finance small and medium projects ."

The statement added that "one of the most prominent things included in the instructions is that the financing period become (10) years as a maximum, and that the time limit does not exceed (3) years, while the interest of the Central Bank will be (2%) annually (decreasing) and is calculated from the date the amount falls in The bank account, and to be paid within the monthly installment deducted from the bank, while the interest of the bank (the financing owner) will be (2%) annually as a maximum .

The Central Bank of Iraq instructed in its instructions "not to allow the financing of the project that was previously funded from the same initiative, as the determination of the lending and delinquency period is subject to relying on the submitted feasibility study and the opinion of the committee concerned with this type of financing ."

The Central Bank stressed that "the credit study of the bank must include all administrative commissions that the bank collects from the customer and that are listed in the bank commissions list starting from the date of opening the account and until the funding is granted to him, taking into account that they are one-time throughout the financing period and the committee has the right to reduce the amounts from them." .



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The central bank issues new instructions for loans in excess of one billion dinars Empty The central bank issues new instructions for loans in excess of one billion dinars

Post by claud39 Thu Mar 12, 2020 9:42 am

The central bank issues new instructions for loans in excess of one billion dinars




March 12, 2020





The central bank issues new instructions for loans in excess of one billion dinars News-158400221512659






In order to move the Iraqi economy and support productive projects, new instructions were issued by this bank regarding loans that exceed one billion dinars within the initiative (one trillion dinars) to finance small and medium projects. Among the most prominent instructions included in the instructions is that the financing period become (10) years as a maximum, and that the time limit does not exceed (3) years, while the interest of the Central Bank will be (2%) annually (decreasing) and calculated from the date the amount is entered into the bank account, and that Paying it within the monthly installment deducted from the bank, and the interest of the bank (the owner of the financing) will be (2%) annually as a maximum.
 

This bank instructed in its instructions not to allow the financing of the project that was previously funded from the same initiative, as the determination of the lending and delinquency period is subject to relying on the submitted feasibility study and the opinion of the committee concerned with this type of financing.
 

The Central Bank also stressed that the bank’s credit study must include all the administrative commissions that the bank collects from the customer and that are listed in the bank’s commissions list starting from the date the account was opened and until the funding is granted to it, taking into account that it is a one-time period throughout the financing period and the committee has the right to reduce the amounts from it.
 

The Central Bank of Iraq
information Office
March 12, 2020






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