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Neno's Place Established in 2006 as a Community of Reality


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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Work: The value of our loans is 8 million, despite the law allowing 20 million

    Rocky
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    Work: The value of our loans is 8 million, despite the law allowing 20 million Empty Work: The value of our loans is 8 million, despite the law allowing 20 million

    Post by Rocky Thu 02 Feb 2023, 6:22 am

    [size=45][size=41]Work: The value of our loans is 8 million, despite the law allowing 20 million[/size]
     3 hours ago
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    Today, Thursday, the Ministry of Labor and Social Affairs set the controls for granting loans to citizens, while counting the number of borrowers during the past years, revealing efforts to launch 40,000 borrowers annually.
    The director of the lending fund in the ministry, Hassan Abdel Jalil, said, according to the official agency, that “the number of citizens who have borrowed since the establishment of the fund until today, and cumulatively, has reached 65 thousand borrowers,” noting that “the fund was established according to Law No. 10 of 2012.”
    Abdel Jalil added, "The number of those covered by the fund has declined in recent years due to the failure to strengthen its capital."
    He pointed out that, “Last year, the ministry launched 15,000 names of those who promoted transactions for borrowing, and nearly 7,000 transactions were received,” explaining that “the most prominent problems that impede the implementation of the program and face citizens in obtaining loans is the inability to provide a guarantor.”
    Al-Jalil stated, “The Ministry of Labor implemented 3 lending programs during the past years,” noting that “the first program was between 2007 and 2009 in cooperation with the Rafidain Bank.”


    He explained, “The ministry had a mediating role between the citizen and the bank by receiving the citizen, promoting the initial transaction, and referring it to the bank for the purpose of disbursement,” explaining that it “implemented a strategy to reduce poverty in 2012 in cooperation with the Ministry of Planning, which was funded from the budget. The number of beneficiaries is about 12,000 borrowers.
    He pointed out that “the ministry implemented in 2013 the Small Projects Support Fund program, which was approved by Law No. 10 of 2012, and the number of beneficiaries exceeded nearly 65,000 borrowers.”
    And he indicated that “the ministry called for strengthening the fund with 40 billion dinars in the 2023 budget, to double the previous numbers,” pointing out that “there are efforts to launch 40,000 names a year after saving money.”
    He noted that "the procedures for obtaining loans are simplified, represented in the fact that the applicant for the loan is registered in the ministry's database, and his age ranges from 18 to 55 years, with original official documents, a copy, and a letter of guarantee from the sponsor's department."
    He continued, "The loan, according to the law, does not exceed 20 million Iraqi dinars, but the ministry has been granting 8 million only for 4 years due to the lack of funds and the large number of applicants."
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