The Central Bank counts the private banks and clarifies the payment of the retired loan
Sweetened Today, 18:48
Baghdad - INA - Nassar Al-Hajj
The Central Bank counted, today, Wednesday, the number of private banks operating in Iraq, while setting a condition for the retired employee to pay the remaining loan he owes.
The Central Bank media said to the Iraqi News Agency (INA), that
"the number of private banks operating in Iraq is 70 banks (commercial, Islamic, branches of foreign banks operating in Iraq)." On the other hand, he added,
"Requiring the retired employee to pay the installments of loans and advances he owes is related to the retirement authority," noting that
"the retirement law stipulates that the amount of deduction from the pensioner's salary does not exceed 50% of his salary." He stressed that
"the bank is obliged to oblige the retired employee to pay part of the remaining loan that he owes, so that half of his salary covers the value of the monthly installment after reducing the principal of the loan," noting that
"there is no demand to pay the full amount, as some promote."