Iraq reopens government bank in Mosul


By Rudao 3 hours ago
المصرف العقاري العراقي
Iraqi Real Estate Bank

Ruudau – Erbil

The Iraqi Real Estate Bank announced on Thursday the reopening of a branch on the eastern side of Mosul as part of the government’s plan to start granting financial loans to civilians to begin reconstruction.

“The bank has chosen to build an alternative to the original building which was destroyed and equipped with all the necessities to start granting financial loans to the people of Mosul in accordance with the initiative of Prime Minister Haider al-Abadi,” the bank’s director Khodair Abbas al-Zuhairi told a news conference in Baghdad.

Zuhairi said that “the opening of the building and will be the direct granting of financial loans, one day after the Iraqi government announced the liberation of the city of Mosul completely, the control of the organization of Daed.

He stressed that “the people of the city of Mosul will all include financial loans, without interest and up to 50 million dinars (about 40 thousand dollars) repayment period of 10 years.”

Most of the houses, property and government institutions on the eastern side of the city of Mosul were destroyed, but officials at Mosul’s local administration confirmed that the damage to infrastructure and property on the western side was double.

And closed several branches of banks were operating in Mosul, after the control of a preacher to maintain the province in the summer of 2014.

Iraqi forces have been waging a massive military operation since last October to expel Saddam from Mosul, Iraq’s last major stronghold.

Government troops, in the eastern half of the city, recovered in January and have been fighting since February to wrest the western half.


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