[size=36]The Iraqi Trade Bank explains the granting of millions of dollars in loans in return for agricultural lands[/size]
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, on Sunday, the Iraqi Trade Bank issued a clarification regarding granting millions of dollars in loans in return for agricultural lands.
The bank's media office said in a statement, "In response to what was published on one of the channels regarding allegations that one of the Iraqi bank's advisors granted millions of dollars in loans in exchange for financing projects built on agricultural lands worth one million dinars, we confirm that this talk is false and inaccurate."
He added, "It is not the prerogative of the consultants to give loans or the employees of the bank except with the approval of the chairman of the board of directors, after which they go through a series of stages and procedures that start from the branch or the concerned department and enter into several stages, in addition to studying and evaluating the project and ensuring the validity of its feasibility in achieving its purpose and recovering The amount of the loan and guarantee the employment of the labor force and achieve the benefit, "noting that"
And he continued, "The machinery and equipment are registered with the notary public and mortgaged in favor of the bank, and the lands and buildings are evaluated by the Real Estate Registration Department and mortgaged in favor of the bank according to the real estate registration controls," noting that "the project, whether it is constructions or machinery and equipment, is insured against risks with insurance companies." approved and that the loans are granted in the account of the borrower and can only be disposed of by paying them to the companies executing the project according to the contract with the borrower and it is in installments to ensure the implementation of the projects.
And he stressed that "the law establishing the bank aims primarily to support strategic and development projects, as the bank financed several projects represented by iron and steel factories, paper mills, cement factories, asphalt factories and other factories, as well as electric power stations, shopping malls and hospitals," explaining that "
The bank stated that "its doors are open to submitting legal documents related to the grant mechanism and proving that." Ended 29/N33