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Abadi Adviser announces completion of credit mechanisms and invites banks to participate

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2016/07/20 (00:20 pm) - hits: 133 - count (3696)


Abadi Adviser announces completion of credit mechanisms and invites banks to participate

 Baghdad/long press

Financial adviser said Prime Minister Haider Abadi, on Tuesday, for completion of Central Bank lending mechanisms, with private banks departments called to facilitate lending to citizens, good banker called Mesopotamia by participating in the process that the branches scattered in various regions, "the poor and disadvantaged.

He said the appearance of Mohammed Saleh told the (range), that "the commissions on completed and Central Bank loans help mechanisms of six trillion dinars,"

calling on the departments of banks to ensure day and night to facilitate the process in order to serve the market activity".

He added, that "loans require some flexibility and speed and accuracy by the banks concerned departments," Noting that

"Rafidain and Rashid should participate in the lending process if the private banks that have a trillion dinars to finance small and medium-sized loans with a slow functioning."

He continued, that "Rafidain and Rashid should contribute with private banks in the Central Bank's initiative to lend the citizens particularly that branches scattered in disadvantaged areas and the poor."

The Central Bank announced, (23 June 2016), launched the SME loans by private Iraqi banks in early July in the current stressed that the loan amount of up to 50 million dinars, the utility will not exceed 5.5%.

In the same context the CBI stressed that remittances by the Bank every month for the Treasury to finance the budget deficit in 2016, noting that Treasury remittances purchased by public retirement service and care of minors and two banks worth 400 billion dinars come to withdraw excess liquidity from banks or entities that have the ability to relinquish liquidity.

He said the Central Bank's financial operations manager Mahmoud Dagher reporters obtained "range", that "such remittances were part of a program to withdraw liquidity and supplement the public Treasury on a monthly basis," pointing out that

"this program with 400 billion dinars roof comes to withdraw excess liquidity from banks or entities that have the ability to relinquish liquidity and get back from this investment."

Dager said, "remittances is a program through the monthly Central Bank system for the Ministry of finance to finance deficits in the State budget for 2016."

The Central Bank announced, Monday (18 July 2016), to care for minors and public retirement and two banks bought Treasury remittances worth 400 billion dinars, pointing out that the number of participants in the auction four participants.

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