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The Cabinet Secretariat directed the Central Bank to reschedule the loans
13:33 - 25/03/2021
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The information / Baghdad… The
General Secretariat of the Council of Ministers directed, today, Thursday, the Central Bank to take appropriate measures regarding rescheduling of previous loans granted by banks to the initiative of the Central Bank of Iraq.
In a statement received by the information, the secretariat said, “This came based on the recommendations of the sub-committee for central bank loans emanating from the supreme committee concerned with setting up a mechanism for granting loans to projects without interest or reduced interest, by making use of the amounts allocated to finance these projects and supervising them, with the aim of Activating the economic sector (the private sector) and facilitating its procedures.
She added, “It was decided to reschedule the previous loans granted by the Housing Fund and the Real Estate Bank. The term of the loan is (20) years with the cancellation of the interest amounting to (2%) calculated on previous loans, starting from the date of 11/29/2020, and the Industrial Bank, the term of the loan) 15 years with interest of (3%) on those loans.
And she continued, "It was also decided to adopt the credit plan schedule for the Central Bank's initiative for all governorates (according to the criteria for population density and poverty rate), as well as to approve the schedule for the distribution of credits for the loans of the Central Bank initiative according to the governorates and the sectors covered (industrial, housing, agricultural)," explaining that "it has been done." Approval of the sponsorship of the woman whose salaries are in the banks licensed by the Central Bank of Iraq, whether permanent owners, contracts, retirees, or employees of the security services, as the settlement of the salary at any of the licensed banks and the reservation of the housing unit will be sufficient to grant the loan without the need for another guarantor.
The secretariat confirmed that “the real estate bank and the housing fund will be covered by the provisions of paragraph (j) of Article (2) of the lending mechanisms communicated by the letter of the General Secretariat of the Council of Ministers dated 11/29/2020”.
General Secretariat of the Council of Ministers directed, today, Thursday, the Central Bank to take appropriate measures regarding rescheduling of previous loans granted by banks to the initiative of the Central Bank of Iraq.
In a statement received by the information, the secretariat said, “This came based on the recommendations of the sub-committee for central bank loans emanating from the supreme committee concerned with setting up a mechanism for granting loans to projects without interest or reduced interest, by making use of the amounts allocated to finance these projects and supervising them, with the aim of Activating the economic sector (the private sector) and facilitating its procedures.
She added, “It was decided to reschedule the previous loans granted by the Housing Fund and the Real Estate Bank. The term of the loan is (20) years with the cancellation of the interest amounting to (2%) calculated on previous loans, starting from the date of 11/29/2020, and the Industrial Bank, the term of the loan) 15 years with interest of (3%) on those loans.
And she continued, "It was also decided to adopt the credit plan schedule for the Central Bank's initiative for all governorates (according to the criteria for population density and poverty rate), as well as to approve the schedule for the distribution of credits for the loans of the Central Bank initiative according to the governorates and the sectors covered (industrial, housing, agricultural)," explaining that "it has been done." Approval of the sponsorship of the woman whose salaries are in the banks licensed by the Central Bank of Iraq, whether permanent owners, contracts, retirees, or employees of the security services, as the settlement of the salary at any of the licensed banks and the reservation of the housing unit will be sufficient to grant the loan without the need for another guarantor.
The secretariat confirmed that “the real estate bank and the housing fund will be covered by the provisions of paragraph (j) of Article (2) of the lending mechanisms communicated by the letter of the General Secretariat of the Council of Ministers dated 11/29/2020”.
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