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After that they described as "risk" .. Central Bank called internal lending and advance the «100 salary bonus

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After that they described as "risk" .. Central Bank called internal lending and advance the «100 salary bonus

7/6/2015


Preparing the Iraqi Central Bank to activate the lending operations, after allocated "trillion dinars for private banks, and 5 trillion dinars, agricultural, industrial and real estate government banks, to lend to micro-entrepreneurs", pointing out that such measures would "maintain economic development."

Banking sources cautioned that stop lending process "has without reference to the law", adding that the Agricultural Bank "constant" in the granting of loans, while the industrial waits for pumping money to re-awarded, as revealed "The Ministry of Finance recently opened credit personnel file, which is taught Currently mechanisms release the 100 salary advance them, the benefits are cumulative. "

Majid picture, a member of the Board of the Central Bank, said that "the financial crisis in the country was reflected in all the joints of the impact sectors, including banks," persisting "The facilities and procedures Bank softened the impact of the crisis dramatically," according to a statement the picture.

He believes that "granting advances or loans at the moment is the risk given the difficult financial conditions, which also led to stop the letters of guarantee, which had been in place previously."

He stressed that the bank "trillion dinars allocated for private banks, to grant loans to the citizens, as well as the allocation of 5 trillion dinars, agricultural, industrial and real estate to banks, to lend to small business owners."

Image credit which was considered and lending operations where "risk", justified those customizations to "in order to maintain a certain pace of economic development."

"The cooperation between the Bank and private banks will continue even after the end of the financial crisis, to deliver to the market stabilization phase".

This agreed with the central bank to launch trillion dinars to finance special projects loans to citizens, after pleading instructions governing the work of guaranteed bank loans companies.

The approval of the decision during a meeting the Board of Directors of the Bank, who explained, according to a statement issued, the amount dedicated to the financing of small and medium enterprises loans to citizens through private sector banks, as the bank approved the organization of work instructions guarantee bank loans companies.

For his part, Ahmed Barzanji, an analyst of economic affairs, said the size of the deposits "relatively modest" financial envelope and austerity budget adopted by the State, "reflected negatively on the work of the commercial banks."

Alborznge called on the government to encourage lending "by pumping money covers the needs of the local market, and the government issued instructions to banks to reduce red tape in granting".

Alborznge considered other than put to work "makes the individual weak and lending policies, and limited to a few cases", claiming "difficult to find any alternatives in light of the state budget austerity."

A source in one of Iraqi banks, stressed "stop borrowing by banks", due to lower oil prices, which led to the exposure of the Iraqi economy to a real crisis.

It is believed the spokesman, who asked not to be named, said the move "my time."

He noted that the central bank allocated trillion dinars, "will provide liquidity to re-launch credit to small and medium enterprises."

"The loans have been suspended without reference to any law."

The spokesman said that there is an ongoing state banks to grant loans agricultural Kalmsrv, while "Industrial Bank is expected to pump money to re-awarded", while the Real Estate Bank is collaborating with the Ministry of Construction and Housing and the "grant but a few."

And that there are three types of loans, two of which continue banks Rafidain and Rasheed in being awarded; the first personal rate of 5 million dinars, with an interest rate of 7%, and loans for cars is estimated at 15 million dinars, with an interest rate of between 8% and 12%.

The third type of loan is the 100 allocated for staff only, currently stalled salary.

The governor of Baghdad, Ali al-Tamimi said during a meeting recently, director of the Commercial Bank of Hamdiya dry, the agreement on granting loans to traders Shorja affected by the fire, which broke out in the market.

The dry said "the bank has government controls and operates according to the Central Bank of programs, but the financial crisis did not prevent him from helping traders affected, totaling 300," indicating that "the loan of about 100 million and an interest rate of 4% and repaid over four years."

http://www.alkashf.org/news.php?action=view&id=3557


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