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[size=36]The Secretary-General of the Council of Ministers issues a directive regarding lending controls[/size]
Economie| 01:36 - 09/17/2022
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Baghdad - Mawazine News
The General Secretariat of the Council of Ministers announced, on Saturday, the discussion of amending lending controls for industrial projects, while it clarified regarding obtaining approval for lending to small and medium projects.
A spokesman for the General Secretariat, Haider Majid, said, "There are several initiatives launched by the Central Bank of Iraq to lend to citizens with soft interests, as well as an initiative to lend to investors in the industrial, agricultural and housing sectors for large projects, in addition to the initiative to lend citizens to purchase housing units to encourage the construction of housing units, including granting loans For citizens who obtain residential plots within the (Dari) initiative launched by the Prime Minister.
Majid added, "The Secretary-General of the Council of Ministers, Hamid Al-Ghazi, chairs the Higher Committee for Lending to Large Projects, and it continues with its meetings to discuss the projects that are presented to it in order to provide facilities and simplify procedures, and constantly stresses the importance of simplifying the procedures for granting large loans to investors and industrialists, to finance projects." housing, service, industrial, and agricultural) within the initiative of the Central Bank of Iraq, which would contribute to the development of the industrial and commercial reality in Iraq, and provide job opportunities for engineering, technical, administrative and service energies, and the committee recommends during its meetings.
Majeed continued, in an interview with the official news agency, Mawazine News, followed it: "The committee also recently discussed amending lending controls for industrial projects, and involving discreet private banks to implement documentary credits, in order to enhance competition and reduce lending costs for borrowers."
He pointed out that "the Secretary-General of the Council of Ministers directed the formation of a working group of members of the committee, to study the submitted proposals and raise its recommendations within ten days, in a manner that does not conflict with the controls and instructions of the Central Bank of Iraq, for the purpose of deciding and approving them."
Regarding loans for small and medium-sized projects submitted by citizens, Majid said, "After providing the committee with a feasibility study for the project, and all the required requirements, it obtains its approval to lend to implement the project, and to provide all banking facilities, and these projects contribute to supporting the local product and employing manpower." Ended 29/N33
The General Secretariat of the Council of Ministers announced, on Saturday, the discussion of amending lending controls for industrial projects, while it clarified regarding obtaining approval for lending to small and medium projects.
A spokesman for the General Secretariat, Haider Majid, said, "There are several initiatives launched by the Central Bank of Iraq to lend to citizens with soft interests, as well as an initiative to lend to investors in the industrial, agricultural and housing sectors for large projects, in addition to the initiative to lend citizens to purchase housing units to encourage the construction of housing units, including granting loans For citizens who obtain residential plots within the (Dari) initiative launched by the Prime Minister.
Majid added, "The Secretary-General of the Council of Ministers, Hamid Al-Ghazi, chairs the Higher Committee for Lending to Large Projects, and it continues with its meetings to discuss the projects that are presented to it in order to provide facilities and simplify procedures, and constantly stresses the importance of simplifying the procedures for granting large loans to investors and industrialists, to finance projects." housing, service, industrial, and agricultural) within the initiative of the Central Bank of Iraq, which would contribute to the development of the industrial and commercial reality in Iraq, and provide job opportunities for engineering, technical, administrative and service energies, and the committee recommends during its meetings.
Majeed continued, in an interview with the official news agency, Mawazine News, followed it: "The committee also recently discussed amending lending controls for industrial projects, and involving discreet private banks to implement documentary credits, in order to enhance competition and reduce lending costs for borrowers."
He pointed out that "the Secretary-General of the Council of Ministers directed the formation of a working group of members of the committee, to study the submitted proposals and raise its recommendations within ten days, in a manner that does not conflict with the controls and instructions of the Central Bank of Iraq, for the purpose of deciding and approving them."
Regarding loans for small and medium-sized projects submitted by citizens, Majid said, "After providing the committee with a feasibility study for the project, and all the required requirements, it obtains its approval to lend to implement the project, and to provide all banking facilities, and these projects contribute to supporting the local product and employing manpower." Ended 29/N33
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