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Central Bank reduces interest value on '1 trillion' initiative loans
[ltr]2021.03.03 - 09:06[/ltr]
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[ltr]2021.03.03 - 09:06[/ltr]
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Baghdad - People
The Central Bank of Iraq decided, on Wednesday, to reduce all interest imposed on loans granted, to limit the economic repercussions of the Corona virus.
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A statement of the Central Bank, which "Nass" received a copy of (March 3, 2021), stated that "the bank was keen to take into account the current exceptional circumstances related to the financial and economic aspect and the repercussions of the Corona pandemic," adding that it "decided to reduce all the interest imposed on loans granted within the framework of the initiative." The Central Bank of Iraq has the (1) trillion dinars, "as below:
1- Reducing the interest of the Central Bank of Iraq for large projects to be (1%) instead of (2%)
2- Reducing interest for banks on housing loans to be (2%) instead of (4%)
3- Amending the Central Bank commission (for housing loans) to be (5 per thousand) instead of (7 per thousand)
4- All interests for the banks and guarantor companies are "diminishing".
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