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The Central Bank announces the largest credit initiative in the history of Iraq and warns of the failure to pay 6 trillion

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ikea


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The Central Bank announces the largest credit initiative in the history of Iraq and warns of the failure to pay 6 trillion

11:32 - 10/12/2018
Baghdad - Mawazine News


The acting central bank governor Ali al-Alak on Monday announced the largest credit initiative in Iraq's history, warning that the default of the payment of 6 trillions.

"The Iraqi Central Bank continues its successes in monetary stability by controlling inflation at its lowest levels and maintaining a high level of foreign currencies," he said in a speech with the launch of the fourth annual conference of the Central Bank of Iraq today in Baghdad.

He added that "the launch of financing small projects through a trillion and a half," pointing out that "this amount is the largest credit initiative in the history of Iraq."

"The Central Bank is currently working on syndicated loans and joint coordination with banks to finance important projects."

The bank said that "6 trillions out of 37 trillions faltering and was not paid by borrowers, which leads to the deduction of banks 2.5% of the losses of bad debts, which includes 16% of bank funds," noting that

"this stumbling in the payment of debt Affects banks and threatens their work."
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tlm724

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Thanks for posting Ikea !!!


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Governor of the Central Bank of Iraq announces new financial loans and warns of faltering payment of 6 trillion

The Central Bank of Iraq announces new financial loans and warns of defaulting payment of 6 trillions
Twilight News    
3 hours ago

(Reuters) - Acting central bank governor Ali al-Alak on Monday announced the launch of new loans to finance projects he described as "the mission", warning at the same time not to borrow for the amount of 6 trillion Iraqi dinars.

"The Iraqi Central Bank continues its successes in monetary stability by controlling inflation at its lowest levels and maintaining a high level of foreign currencies,

He pointed to the launch of financing small projects through a trillion and a half, saying that this amount is "the largest lending initiative in the history of Iraq."

"The Central Bank is currently working on syndicated loans and joint coordination with banks to finance important projects."

The central bank said that 6 trillions out of 37 trillions were not paid by the borrowers, which leads to the deduction of banks 2.5% of the losses of bad debts, which includes 16% of bank funds, pointing out that this stumbling in the payment of debt affects the banks And threatens its work.

http://www.shafaaq.com/ar/Ar_NewsReader/888130bd-13b7-4f65-8f25-6ed523416b07


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