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Governmental bank: billions of dinars solar energy loans for residential complexes
Shafaq News/ The state-run Al-Nahrain Islamic Bank announced on Wednesday that the process of lending residential complexes and institutions with solar energy amounts to billions of dinars.
Deputy Director of the Bank, Imad Rassan, said in an interview with Shafaq News Agency, "The bank has started financing purchases of solar energy systems for citizens, residential complexes, companies and institutions, with the Central Bank working to encourage the adoption of energy production tools from renewable sources."
He added that "there is a great demand by employees of state departments and citizens in general to obtain the loan, which amounts to 10 million dinars, while loans for obtaining solar energy systems for companies and residential complexes reach billions of dinars."
Rasan also indicated that "the customer agrees with one of the companies that supply the solar energy system to supply it, and the bank, in turn, pays the money to this company directly without the customer's intervention," noting that "the payment is for a period of five years."
The Central Bank of Iraq decided in July 2021 to work to encourage the adoption of energy production tools from renewable sources, and to work with the Higher Committee for Lending to ensure the processing of a proportion of the electric energy generated from renewable energy sources (solar panels) in the investment housing complexes benefiting from the initiative.
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Deputy Director of the Bank, Imad Rassan, said in an interview with Shafaq News Agency, "The bank has started financing purchases of solar energy systems for citizens, residential complexes, companies and institutions, with the Central Bank working to encourage the adoption of energy production tools from renewable sources."
He added that "there is a great demand by employees of state departments and citizens in general to obtain the loan, which amounts to 10 million dinars, while loans for obtaining solar energy systems for companies and residential complexes reach billions of dinars."
Rasan also indicated that "the customer agrees with one of the companies that supply the solar energy system to supply it, and the bank, in turn, pays the money to this company directly without the customer's intervention," noting that "the payment is for a period of five years."
The Central Bank of Iraq decided in July 2021 to work to encourage the adoption of energy production tools from renewable sources, and to work with the Higher Committee for Lending to ensure the processing of a proportion of the electric energy generated from renewable energy sources (solar panels) in the investment housing complexes benefiting from the initiative.
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