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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

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    Adviser to the Prime Minister: Loan repayment defaults make banks vulnerable to guardianship

    Rocky
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    Adviser to the Prime Minister: Loan repayment defaults make banks vulnerable to guardianship Empty Adviser to the Prime Minister: Loan repayment defaults make banks vulnerable to guardianship

    Post by Rocky Thu 28 Dec 2023, 3:22 pm

    Adviser to the Prime Minister: Loan repayment defaults make banks vulnerable to guardianship

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    Economy News - Baghdad
    The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed on Thursday that the issue of faltering loan collection makes the bank vulnerable to the imposition of commandments by the Central Bank.
    Saleh said in an interview with Al-Iqtisad News, “The global standard for defaulting on loans is a maximum of no more than 3% of the total loans or cash credits granted by banks.”
    He added, "Our country has witnessed defaults in recovering loans from debtors, amounting in some banks to 28% of the total loans, which makes the bank vulnerable to guardianship due to the erosion of capital, especially banks that do not have sufficient hedges around capital in the event of defaults in granted bank credits."
    Saleh stressed "the importance of creating an insurance or guarantee company to collect loans in a way that maintains the integrity of the banking system, the integrity of its operations, and the strength of its liquidity, and to avoid the risks resulting from loss due to default in collection, which causes poor quality of assets in relation to bank liabilities or liabilities and their dues."
    He pointed out that "the cost of guaranteeing loans will be inversely proportional to the type of guarantees provided by the borrower. The stronger the guarantees, the lower the cost of insurance or the cost of the guarantee that the loan guarantee company will receive in return for securing the loan, whether from the borrower itself, the bank granting the loan, or both together." .



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    Added 12/28/2023 - 4:58 PM
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      Current date/time is Thu 20 Jun 2024, 4:58 pm