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Government launches own banks loans sectoral exchange mechanisms
06/09/2015 18:10
Tomorrow Press / Baghdad: The government launched on Sunday, and the particular conditions of banks sectoral disbursement of loans, while the industrial and agricultural bank got 33% each of the total amount of the loan mechanisms.
A member of the Commission on the Status special program of the Central Bank loans mechanisms and head of the Iraqi Business Council David Abdul Zayer said in a statement received the "tomorrow Press", a copy of "Prime Minister's Office has announced the mechanisms used in private banks sector loans disbursed according to the custom of the Iraqi Central Bank program his five trillion dinars in terms of a mechanism identified the 2% annual interest rate and repayment is limited to five years, subject to extension in accordance with the need. "
"The mechanisms by which ratified by the crisis cell in the Office of the Prime Minister and distributed amounts between sectoral banks, where he received the industrial and agricultural bank to 33% of the total loan either mortgage bank and the Housing Fund have each won 17% of the total loan amount."
He said Zayer "The committee responsible for monitoring the loans and put Classifications agricultural, industrial and real estate projects, has given the bank the powers granted preliminary approval for the project in exchange for a letter of guarantee provided by the borrower of not less than 5% of the loan value and confiscated in the event of failure of the borrower to the implementation of 20% of the project and is no longer needed to the letter of guarantee in case the ratio achieved. "
He called on industrialists and farmers who want mortgages to "see the mechanisms that issued by the Prime Minister's Office / cell crisis to take advantage of loans granted in accordance with the Central Bank's lending program for the five, trillion dinars having developed of a mechanism required to give it."
He noted Zayer that "efforts by the central bank and members of the cell crisis and banking sector worthy of praise being fielded all relevant status and contribution by all government and legal parties, the private sector and the banking sector and this step confirms the seriousness of the government to involve everyone in the vital files in running the country."
He said that "the issuance of the government, especially Prime Minister's Office lending mechanisms so quickly and this type of facility that serves the beneficiary and maintains public money is a new spirit in facilitating procedures and overcome the red tape held promised by the executive branch of the government program."
He called Zayer government to "continue to pursue this promising project, which would have a role in moving the economy and create jobs and stimulate the agricultural and industrial sectors in addition to wanting to real estate loans, and that does not allow the development of any obstruction administrative or routine limit its effectiveness in order to achieve its stated objectives."
The approved cell crisis, on Monday, August 23, the lending program, which is funded by the Iraqi Central Bank in the amount of five trillion dinars for the sectors of industry, agriculture and housing, as instructed Prime Minister Haider al-Abadi immediately proceed with the necessary procedures.
The Central Bank (8 August 2015), the launch of an initiative to support the agricultural, industrial, real estate and housing fund sector banks with loans amounting to five trillion dinars, with the exception of the initiative "a good step" for the recovery of the economic situation and liquidity, confirmed they come to avoid foreign loans.
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06/09/2015 18:10
Tomorrow Press / Baghdad: The government launched on Sunday, and the particular conditions of banks sectoral disbursement of loans, while the industrial and agricultural bank got 33% each of the total amount of the loan mechanisms.
A member of the Commission on the Status special program of the Central Bank loans mechanisms and head of the Iraqi Business Council David Abdul Zayer said in a statement received the "tomorrow Press", a copy of "Prime Minister's Office has announced the mechanisms used in private banks sector loans disbursed according to the custom of the Iraqi Central Bank program his five trillion dinars in terms of a mechanism identified the 2% annual interest rate and repayment is limited to five years, subject to extension in accordance with the need. "
"The mechanisms by which ratified by the crisis cell in the Office of the Prime Minister and distributed amounts between sectoral banks, where he received the industrial and agricultural bank to 33% of the total loan either mortgage bank and the Housing Fund have each won 17% of the total loan amount."
He said Zayer "The committee responsible for monitoring the loans and put Classifications agricultural, industrial and real estate projects, has given the bank the powers granted preliminary approval for the project in exchange for a letter of guarantee provided by the borrower of not less than 5% of the loan value and confiscated in the event of failure of the borrower to the implementation of 20% of the project and is no longer needed to the letter of guarantee in case the ratio achieved. "
He called on industrialists and farmers who want mortgages to "see the mechanisms that issued by the Prime Minister's Office / cell crisis to take advantage of loans granted in accordance with the Central Bank's lending program for the five, trillion dinars having developed of a mechanism required to give it."
He noted Zayer that "efforts by the central bank and members of the cell crisis and banking sector worthy of praise being fielded all relevant status and contribution by all government and legal parties, the private sector and the banking sector and this step confirms the seriousness of the government to involve everyone in the vital files in running the country."
He said that "the issuance of the government, especially Prime Minister's Office lending mechanisms so quickly and this type of facility that serves the beneficiary and maintains public money is a new spirit in facilitating procedures and overcome the red tape held promised by the executive branch of the government program."
He called Zayer government to "continue to pursue this promising project, which would have a role in moving the economy and create jobs and stimulate the agricultural and industrial sectors in addition to wanting to real estate loans, and that does not allow the development of any obstruction administrative or routine limit its effectiveness in order to achieve its stated objectives."
The approved cell crisis, on Monday, August 23, the lending program, which is funded by the Iraqi Central Bank in the amount of five trillion dinars for the sectors of industry, agriculture and housing, as instructed Prime Minister Haider al-Abadi immediately proceed with the necessary procedures.
The Central Bank (8 August 2015), the launch of an initiative to support the agricultural, industrial, real estate and housing fund sector banks with loans amounting to five trillion dinars, with the exception of the initiative "a good step" for the recovery of the economic situation and liquidity, confirmed they come to avoid foreign loans.
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