Trade Bank of Iraq clarifies interest rates on its loans in 5 areas

The Trade Bank of Iraq (TBI) clarified, on Monday, the interest rates on its loans granted in 5 areas, and while indicating the imminent issuance of decisions to support industrial projects, it confirmed the increase in the number of transfers to 500 transfers per day.

The bank's director, Bilal Sabah Al-Hamdani, said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "the bank works to build businessmen by financing projects and providing job opportunities through loans for medium and small projects," indicating that "the bank grants loans worth 150 million with a decreasing interest of 4% for housing loans in complexes, in addition to loans for industrial and agricultural projects after obtaining the necessary approvals, with an interest of only 4%, and loans for service projects with an interest of 6% and commercial projects 8%."

He added that "the bank opened a special center on the Karkh side for deposits to reduce the congestion on the branches and citizens and provide a distinguished service to the customer. It is the first model building and isolated rooms for the customer's privacy," noting that "there are decisions awaiting issuance by the Council of Ministers to support industrial projects, and it will be an objective shift if approved."

Al-Hamdani continued, "The bank received a large number of experienced job applicants and they were interviewed by a specialized committee."

For his part, the bank's media advisor, Aqil Al-Shuwaili, said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "the general administration confirms that the media is the eye of the official who sees what is happening around him of things that concern the citizen and the institution, and today our doors are open to the free media," noting that "the percentage of transfers increased to 500 various transfers per day after the decisions taken by the bank's management to open a deposit center and additional branches were opened and working hours were extended from 7 am to 3 pm," noting that "these decisions contributed greatly to reducing the momentum."

He added, "The percentage of transfers increased from 250 to more than 500 various transfers per day within the Iraqi Trade Bank in all branches and is subject to increase," indicating that "there are branches still under construction that will be opened soon and there are employees with experience, and work will be done to increase their numbers."

He explained, "A digital platform has been opened to receive complaints from the bank's customers to be processed, and we will launch a number to receive complaints (577), and the door will also be opened for cooperation with media institutions."