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Warnings of high inflation and increased real estate prices
08/06/2011
After the release of staff loans and advances
Baghdad-Haidar Al-fleih
Economists expressed fears of possible rise in inflation in Iraq generally after granting staff advances and loans, emphasizing the importance of follow-up to market fluctuations during the period that corresponds to the distribution of those sums among the beneficiaries, adding that a large cash infusion in the street block produces naturally high inflation, pointing at the same time that construction materials markets and real estate as well as notable highs car prices in the coming days after the payment process between beneficiaries, arguing to increase Buying residential or build additional units or their to buy cars, the resulting rise in prices may occur in line with credit periods.
The Rasheed Bank direct confirmed receipt of requests for credit lending for staff who work and 5 million dinars, and cent salary, and his marriage by the State services. With announced his intention to banking facilities and private-sector loans up to a million dollar loan, as well as his opening three branches has practised Islamic banking in Baghdad, Najaf and Basra this month ...
Director nashor Rasheed Bank in modern Kazim (morning): the Bank began lending credit schemes to promote requests for State officeholders in continuous circles and permanent staffing service, indicating that the resumption of work grant to help reduce the housing shortage afflicting Iraqi citizen and will loan amount ($) salary shall not exceed 50 million dinars in any case ... The Director suggested that the process of granting loans and credits come for specific purposes by the Bank to buy housing units, or building a residential building, or add, or buy a dwelling, or purchase housing units within housing estates projects, stating that it would grant through borrower service paid his salary and a monthly meals spans (24) months from the month of June being 2011 taking into account the need for the official candidate for the loan.
And nashor interest rate levied on all loans will be granted by Rasheed Bank (five millions and% salary advances marriage) with 6 percent of the size of the loan or advance.
So nashor said he instructed the Rasheed Bank on marriage advances to State employees and $ 3 million dinars to benefit 6 percent for repayment three years including a grace period (3) months and will guarantee the advance payment insurance company national insurance and guarantor of permanent staffing. On a related level Director Rasheed Bank done to a set of actions that it can support industrial realities of the private sector in Iraq, indicating that good works to provide bank facilities and new bank loans to the private sector more than $ 1 million per plant, which could revive private industrial realities in Iraq and enable it to enter the competition with materials imported from abroad, in turn, economists warned of the dangers of high inflation during the periods that you grant staff Advances and loans, indicating that a big cash injection block in the local market would increase inflation and would increase the prices of goods and materials especially in construction work. Economic researcher has referred to alhalevy speaking (morning) to the support staff is important to State at present, however, alhalevy noted that the granting of advances and loans of this size and this period could increase prices visibility can absorb significantly monetary value of those loans.Alhalevy noted that the Rafidain and Rashid loans this size for construction or purchase of units or plots can increase prices by increasing the difficulties of achieving that goal, calling for a division of grant process does not affect the domestic market especially property prices and gesture achieves the highest degree of interest.
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08/06/2011
After the release of staff loans and advances
Baghdad-Haidar Al-fleih
Economists expressed fears of possible rise in inflation in Iraq generally after granting staff advances and loans, emphasizing the importance of follow-up to market fluctuations during the period that corresponds to the distribution of those sums among the beneficiaries, adding that a large cash infusion in the street block produces naturally high inflation, pointing at the same time that construction materials markets and real estate as well as notable highs car prices in the coming days after the payment process between beneficiaries, arguing to increase Buying residential or build additional units or their to buy cars, the resulting rise in prices may occur in line with credit periods.
The Rasheed Bank direct confirmed receipt of requests for credit lending for staff who work and 5 million dinars, and cent salary, and his marriage by the State services. With announced his intention to banking facilities and private-sector loans up to a million dollar loan, as well as his opening three branches has practised Islamic banking in Baghdad, Najaf and Basra this month ...
Director nashor Rasheed Bank in modern Kazim (morning): the Bank began lending credit schemes to promote requests for State officeholders in continuous circles and permanent staffing service, indicating that the resumption of work grant to help reduce the housing shortage afflicting Iraqi citizen and will loan amount ($) salary shall not exceed 50 million dinars in any case ... The Director suggested that the process of granting loans and credits come for specific purposes by the Bank to buy housing units, or building a residential building, or add, or buy a dwelling, or purchase housing units within housing estates projects, stating that it would grant through borrower service paid his salary and a monthly meals spans (24) months from the month of June being 2011 taking into account the need for the official candidate for the loan.
And nashor interest rate levied on all loans will be granted by Rasheed Bank (five millions and% salary advances marriage) with 6 percent of the size of the loan or advance.
So nashor said he instructed the Rasheed Bank on marriage advances to State employees and $ 3 million dinars to benefit 6 percent for repayment three years including a grace period (3) months and will guarantee the advance payment insurance company national insurance and guarantor of permanent staffing. On a related level Director Rasheed Bank done to a set of actions that it can support industrial realities of the private sector in Iraq, indicating that good works to provide bank facilities and new bank loans to the private sector more than $ 1 million per plant, which could revive private industrial realities in Iraq and enable it to enter the competition with materials imported from abroad, in turn, economists warned of the dangers of high inflation during the periods that you grant staff Advances and loans, indicating that a big cash injection block in the local market would increase inflation and would increase the prices of goods and materials especially in construction work. Economic researcher has referred to alhalevy speaking (morning) to the support staff is important to State at present, however, alhalevy noted that the granting of advances and loans of this size and this period could increase prices visibility can absorb significantly monetary value of those loans.Alhalevy noted that the Rafidain and Rashid loans this size for construction or purchase of units or plots can increase prices by increasing the difficulties of achieving that goal, calling for a division of grant process does not affect the domestic market especially property prices and gesture achieves the highest degree of interest.
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