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Neno's Place Established in 2006 as a Community of Reality


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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Establishment of a syndicated lending fund with a capital of 500 billion dinars

    Rocky
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    • Post n°1

    Establishment of a syndicated lending fund with a capital of 500 billion dinars Empty Establishment of a syndicated lending fund with a capital of 500 billion dinars

    Post by Rocky Sat 23 Dec 2017, 2:16 am

    [size=30]Establishment of a syndicated lending fund with a capital of 500 billion dinars[/size]
    23/12/2017 09:03 | Number of readings: 268
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    Said the adviser to the Governor of the Central Bank of Iraq, Walid Eide, that the Central Bank established a joint lending fund with a capital of 500 billion dinars to finance projects that develop infrastructure.
     
    "The banking law allows the bank to grant 10 percent of the capital as a result of the challenges facing the economy because of the security situation and the weakness of the guarantees provided," Idi said in a press statement.
     
    He pointed out that "the Central Bank decided to establish a mutual fund with a capital of 500 billion dinars can be increased and mandatory participation of all commercial banks, explaining that each bank will contribute to the capital of the Fund by 4 billion dinars."
     
    "The loans to be granted by the Lending Fund are related to the development of infrastructure such as the establishment of hotels and hospitals, the financing of dilapidated projects for the government and the construction of schools and others."
     
    "The interest that the Lending Fund will take is very small compared to market interest because the risk ratio is not large because there is more than one lender."
     
    The banks operating in Iraq, government and private loans more than 37 trillion dinars, according to data issued by the Association of Iraqi private banks.

    Iraq has about 70 banks licensed by the Central Bank with a capital of more than 11.7 trillion dinars.

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