Baghdad/Al news ...The Finance Ministry, confirmed Sunday, that the process of reducing interest on commercial loans from the Rafidain Bank and Rasheed is not possible at the moment and need to act on the House legislation.
And meet good and Rafidain Bank benefits estimated at 7% of the total loan amount for business loans, housing loans and excludes industrial and development of these benefits.
Official spokesman said Finance Minister Minister Abdul Zahra Hindawi Agency told the of Al baghdadia news "reduction of interest rates on commercial loans is not possible at present because the amounts granted as loans due to private creditors placed their money in the Bank to get the benefits, thus reducing benefits would lead to a deficit in the budget of the Bank and inflicting heavy losses.
The "move in the direction of reducing loans need legislation in the House of representatives allocated funds to cover the deficit if the Government sought to reduce rates charged to loans and this will happen soon probably." ended/21 h
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