Iraq decides to grant an operating loan to the owners of hotels up to 50 million dinars

Iraq decides to grant an operating loan to the owners of hotels up to 50 million dinars


18/06/2017


Rafidain Bank decided to grant an operating loan to the owners of tourist hotels for the purpose of restoration and rehabilitation of the hotels.

The Information Office of the Bank said in a statement obtained "direction Press" a copy of it, that "the Bank has set conditions and specific controls for the granting of loans to the owners of hotels up to 50 million dinars and a period of 3 months grace."


He said the loan terms, namely: the loan amount of 50 million dinars, with an interest rate of 9% per annum, and the period of 3 months grace, and the payment of installments and interest on a monthly basis after the expiration of the grace directly. "


"I put the pledge on a suitable property offers by the borrower and mortgage insurance is first-class in favor of the bank to cover the value of (the loan amount 20+%), and collected administrative commission of 2% of the loan amount."


And branch procedures in the grant statement said that "the customer to submit a request to apply for an operating loan in the branch, which has banking facilities or tourist loan or bank account, and the hotel license issued by the Ministry of Tourism and the health of their issuance, and a list of the needs of the hotel and the amounts estimated for it."


He also offers the borrower "archives supporting the hotel owner and the health of their issuance and validity of the issuance of all Protozoa and documents contained in the dossier total, and facilities and loans issued by the Central Bank of Iraq, and to provide an image under modern property to be mortgaged and a disclosure by the branch in accordance with the regulations and instructions and prepare revealed issued by the Committee's report detection in the branch and expert Al-Ahli, while retaining the full Balaillarh of the borrower at the branch for the purpose of reference when checking or other requirements. "


He pointed to "provide internal loans Division statistic monthly electronic includes (borrower name - loan amount - the date of use - the amount paid - the date of payment - the remaining balance - the amount due and unpaid, if any, insurance has a government insurance companies through the conclusion of the company held by General administration / financial section), and the organization of contract rights / 42 loan. "
EST

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Rafidain publishes the rules of granting loans to hotels and up to 50 million dinars


Release date: 2017/6/18



Rafidain Bank decided to grant an operational loan to the owners of tourist hotels for the purpose of restoration and rehabilitation of hotels.
"The bank has set specific terms and conditions to grant loans to hotel owners up to 50 million dinars and a period of three months," the bank's press office said in a statement received by the agency All Iraq.
He explained the terms of the loan, namely: the amount of the loan 50 million dinars at a rate of 9% per annum, and a period of 3 months, and the payment of installments and interest monthly after the end of the grace period directly.
He added that "placing the mortgage sign on an appropriate property offered by the borrower and is subject to insurance of the first degree in favor of the bank to cover the value [loan amount + 20%], and the administrative commission is charged 2% of the loan amount.
Regarding the branch's procedures in the grants, the statement stated that "the customer will submit an application for an operational loan in the branch which has banking facilities, tourism loan or bank account, and provide the hotel license issued by the Ministry of Tourism and the validity of its issuance and a list of the needs of the hotel and the estimated amounts."
The Borrower also provides "the correct documents of the owner of the hotel and the validity of issuance and the validity of the issuance of all the priorities and documents included in the total package, facilities and loans issued by the Central Bank of Iraq, and provide a copy of a recent listing of the property to be mortgaged and the disclosure by the branch in accordance with the controls and instructions and prepare a report issued by the Committee Disclosure in the branch and the civil expert, while keeping the full deposit of the borrower at the branch for reference at the audit or other requirements.
He referred to "providing the Internal Loans Division with an electronic monthly statistic including the name of the borrower, the loan amount, the date of use, the amount paid, the date of the payment, the remaining balance, the outstanding and unpaid amount, if any, General Administration / Finance Division], and the organization of a loan / rights contract. "

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Rafidain publishes controls the granting of loans to the owners of hotels


Rafidain Bank mode, on Sunday, conditions and controls on the operating loan for the owners of tourist hotels for the purpose of restoration and rehabilitation of the hotels.

The Information Office of the Bank said in a statement, "Economy News" received a copy of it, that "the Bank has set specific conditions and controls for the granting of loans to the owners of hotels up to 50 million dinars and a period of 3 months grace."

Terms of the loan:

The loan amount of 50 million dinars .nsph interest rate of 9% per annum.

Grace period of the loan 3 months.

The monthly payment of installments and interest after the end of a period of grace directly.

Put a foreclosure sign on a suitable property offers by the borrower and mortgage insurance is first-class for the benefit of our bank to cover the value of (the loan amount 20+%).

Administrative commission levied by (2%) of the loan amount.

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