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[size=35][size=35]New government directive regarding calculating loan interest[/size]
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01-09-2024 | 14:10
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The source said in an interview with Al-Sumaria News, “Prime Minister Muhammad Shiaa Al-Sudani directs the Ministry of Finance, the Central Bank of Iraq, and government and private banks to reconsider calculating the interest paid on loans granted to citizens.”
The source added that the directive includes “using the simple, decreasing interest method instead of the cumulative method, which burdens the borrower with burdens on them.”
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01-09-2024 | 14:10
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On Tuesday, a government source revealed a new directive regarding calculating the interest paid on loans granted to citizens.
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The source said in an interview with Al-Sumaria News, “Prime Minister Muhammad Shiaa Al-Sudani directs the Ministry of Finance, the Central Bank of Iraq, and government and private banks to reconsider calculating the interest paid on loans granted to citizens.”
The source added that the directive includes “using the simple, decreasing interest method instead of the cumulative method, which burdens the borrower with burdens on them.”
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