The Association of Banks announces the volume of loans provided to the projects of the Central Bank’s initiative

2021.10.25 – 13:18
The Association of Banks announces the volume of loans provided to the projects of the Central Bank's initiative

Baghdad – people  

The Association of Private Banks announced, on Monday, granting loans worth 747.3 billion dinars to 8,612 projects.  

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The Executive Director of the Association, Ali Tariq, said in a statement that “Nas” received a copy of it (October 25, 2021), that “the Central Bank of Iraq launched a lending initiative worth one trillion dinars to support the economy and projects of all kinds,” noting that “44 private banks participated in the initiative.” “.  

He added that “banks loaned 8,612 projects worth 747.3 billion dinars and contributed to creating thousands of direct and indirect job opportunities, in addition to lending them to hundreds of citizens to buy housing units.”  

Tariq pointed out that “the Central Bank’s one trillion initiative supported the various industrial, agricultural, commercial, residential and other sectors, and led to contributing to improving the situation of the local industry and obtaining a market share in light of the sweeping of imported products.”  

And he indicated that “women have obtained a good percentage of loans in light of the general trend of the Central Bank, to empower Iraqi women and motivate them to integrate into the labor market and establish private businesses.”  

He pointed out that “the monetary policy represented by the Central Bank has supported small and medium businesses, because they constitute about 90% of the total companies in most economies of the world and provide the largest percentage of job opportunities, and that the doors of banks are still open for those wishing to obtain loans to support their economic projects, which start from one million dollars.” dinars to more than one billion and very easy interest.

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