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[size=36]Association: 30,000 citizens obtained a loan within the Central Bank’s initiative to finance small projects[/size]
Economie| 02:36 - 11/29/2022
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Baghdad - Mawazine News
The Iraqi Private Banks Association announced, on Monday, that more than 30 thousand citizens have obtained a loan since the start of the Central Bank’s initiative to finance small projects amounting to 4 trillion dinars, noting that the initiative lent until the third quarter of this year more than 2 trillion. Dinar.
The Executive Director of the Association of Private Banks, Ali Tariq, said in a statement received by Mawazine News, that "the Central Bank of Iraq launched a development initiative to stimulate the economy, through private banks in 2015, for which one trillion dinars were allocated, but in 2021 and 2022 it decided to increase allocations for it." for 4 trillion dinars.
Tariq added, "Total financing from the initiative until the third quarter of this year amounted to 2.2 trillion dinars, up by 124.4% compared to last year, which amounted to 980 billion dinars," stressing that "total loans amounted to 30,364 loans until the third quarter of the year." current year, up by 88.7% compared to last year, which amounted to 17,032 loans.
The Executive Director indicated that "the agricultural sector's share was 115.7 billion dinars with 310 loans, the industrial sector 522.2 billion dinars with 1167 loans, the commercial sector 476 billion dinars with 8190 loans, the service sector 310 billion dinars after 2770 loans, and the residential sector 616 billion dinars with 6430 loans." Finally, personal loans amounted to 158.4 billion dinars, with 11,497 loans.
He noted that "these loans contributed to stimulating the non-oil economy, through the establishment of industrial, agricultural and service projects, in addition to supporting investments, which have employed thousands of people in these projects," noting that "the initiative allocated a large part of the funding to lend citizens to buy housing units in Investment complexes, in support of the establishment of regular cities as a substitute for slums, calling for the continuation of this initiative due to its positive effects on everyone.
He pointed out that "citizens are in great need of loans, but it requires an effort from the Iraqi state to facilitate procedures and protect financial institutions from the risks of evasion and non-payment." Ended 29/N33
The Iraqi Private Banks Association announced, on Monday, that more than 30 thousand citizens have obtained a loan since the start of the Central Bank’s initiative to finance small projects amounting to 4 trillion dinars, noting that the initiative lent until the third quarter of this year more than 2 trillion. Dinar.
The Executive Director of the Association of Private Banks, Ali Tariq, said in a statement received by Mawazine News, that "the Central Bank of Iraq launched a development initiative to stimulate the economy, through private banks in 2015, for which one trillion dinars were allocated, but in 2021 and 2022 it decided to increase allocations for it." for 4 trillion dinars.
Tariq added, "Total financing from the initiative until the third quarter of this year amounted to 2.2 trillion dinars, up by 124.4% compared to last year, which amounted to 980 billion dinars," stressing that "total loans amounted to 30,364 loans until the third quarter of the year." current year, up by 88.7% compared to last year, which amounted to 17,032 loans.
The Executive Director indicated that "the agricultural sector's share was 115.7 billion dinars with 310 loans, the industrial sector 522.2 billion dinars with 1167 loans, the commercial sector 476 billion dinars with 8190 loans, the service sector 310 billion dinars after 2770 loans, and the residential sector 616 billion dinars with 6430 loans." Finally, personal loans amounted to 158.4 billion dinars, with 11,497 loans.
He noted that "these loans contributed to stimulating the non-oil economy, through the establishment of industrial, agricultural and service projects, in addition to supporting investments, which have employed thousands of people in these projects," noting that "the initiative allocated a large part of the funding to lend citizens to buy housing units in Investment complexes, in support of the establishment of regular cities as a substitute for slums, calling for the continuation of this initiative due to its positive effects on everyone.
He pointed out that "citizens are in great need of loans, but it requires an effort from the Iraqi state to facilitate procedures and protect financial institutions from the risks of evasion and non-payment." Ended 29/N33
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