The Central Bank decides to reduce all the benefits of the loans granted within the 1 trillion dinars initiative
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The Central Bank decides to reduce all the benefits of the loans granted within the 1 trillion dinars initiative
by claud39 Wed Mar 03, 2021 10:49 am
The Central Bank decides to reduce all the benefits of the loans granted within the 1 trillion dinars initiative
03/03/2021
03/03/2021
Economy News - Baghdad
The Central Bank of Iraq decided, on Wednesday, to reduce the interest on loans granted within the 1 trillion dinars initiative.
"The Central Bank of Iraq is keen to take into account the current exceptional circumstances related to the financial and economic aspect and the repercussions of the Corona pandemic," the central bank said in a statement received by Al-Eqtisad News.
The statement added: "Therefore, this bank decided to reduce all the interest imposed on loans granted within the initiative of the Central Bank of Iraq (1) trillion dinars."
According to the statement, it was decided to "reduce the interest of the Central Bank of Iraq for large projects to be (1%) instead of (2%), and to reduce the interest for banks on housing loans to be (2%) instead of (4%)."
The statement indicated that "the commission of the central bank (for housing loans) was amended to be (5 per thousand) instead of (7 per thousand)."
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