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[size=52]Parliament Finance: Government banks did not adhere to Al-Sawadni’s directives[/size]
[size=45]Member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, confirmed that government banks did not comply with Al-Sudani’s directives regarding the interest rate on loans.[/size]
[size=45]Al-Kadhimi said, “A lot of the advance funds and loans in banks belong to the private sector, and they are not necessarily bank funds, so interest is not taken into account and reduced.”[/size]
[size=45]He added, “If a simple employee wishes to take an advance worth 10 million dinars from banks, he will repay 14 million with the interest rate.”[/size]
[size=45]Al-Kadhimi explained that “the Parliamentary Finance Committee will, during the coming period, host the Governor of the Central Bank and bank directors to discuss the mechanism for granting loans and advances to employees and citizens,” noting “the banks’ failure to adhere to the Prime Minister’s directive regarding the interest rate being decreasing and not fixed.”[/size]
[size=45]On March 26, a government source reported that most government banks were still adopting the fixed interest method on advances and loans despite the directives of Prime Minister Mohamed Al-Sudani to recalculate bank interest.[/size]
[size=45][You must be registered and logged in to see this link.]
[size=52]Parliament Finance: Government banks did not adhere to Al-Sawadni’s directives[/size]
[size=45]Member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, confirmed that government banks did not comply with Al-Sudani’s directives regarding the interest rate on loans.[/size]
[size=45]Al-Kadhimi said, “A lot of the advance funds and loans in banks belong to the private sector, and they are not necessarily bank funds, so interest is not taken into account and reduced.”[/size]
[size=45]He added, “If a simple employee wishes to take an advance worth 10 million dinars from banks, he will repay 14 million with the interest rate.”[/size]
[size=45]Al-Kadhimi explained that “the Parliamentary Finance Committee will, during the coming period, host the Governor of the Central Bank and bank directors to discuss the mechanism for granting loans and advances to employees and citizens,” noting “the banks’ failure to adhere to the Prime Minister’s directive regarding the interest rate being decreasing and not fixed.”[/size]
[size=45]On March 26, a government source reported that most government banks were still adopting the fixed interest method on advances and loans despite the directives of Prime Minister Mohamed Al-Sudani to recalculate bank interest.[/size]
[size=45][You must be registered and logged in to see this link.]
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