Posting completion of the financing of small and medium enterprises

7/9/2015 0:00

BAGHDAD - the joy of pumice
The central bank announced the completion of the controls of his initiative to finance small and medium projects and submit them to the governor with a view to approval and approval.

Director General of the release of the Bank Ihsan al-Yassiri said the "morning" in a statement to the possibility of the issuance of checks and working out during the next two days, as it has been complete them by the competent committees awaiting approval by the Governor of the Bank.

Yasiri also reported identifying controls and mechanisms of lending and recovery and distribution of ratios between all the productive sectors in the country for coverage of funding, pointing to the possibility of the banks concerned with the promotion of granting loans to small and medium-sized enterprises transactions in respect of the month of July and to provide bottom line in the month of August, for the Bank to compensate for the loans granted during this month.

Bank of the UNESCO and has since the start of the Central Bank initiative promoting about 20 treatment of loan and pending the issuance of instructions and allocations for granted to borrowers, as the management of the bank has worked in collaboration with the Association of Banks in conjunction with the relevant committees in the Central Bank to establish the mechanisms and controls for the financing of small and medium enterprises to benefit from the amount of "trillion dinars. "

It should be noted that the central bank decided last May to issue instructions to contribute to the financing of small and medium enterprises in order to achieve economic and social development through the support of this Alharia and run with outstanding skills the workforce, as the central allocated (trillion dinars) for the purpose of lending to those Almharia through banks operating in Iraq and wishing to selling out this project. This project targets or initiative agricultural sectors, industrial, housing, commercial, health, educational and tourism services, as the Bank determines the roof top of the loan granted by (50 million dinars), the recovery of 3 years for no more than with the possibility of extension for a period of one year with the approval of the central bank governor , at an interest rate not to exceed 5.5 percent (interest rate that the bank met by no more than 4 percent rate, and the percentage collected by the guarantor of no more than 0.8 percent, while the proportion met by the central bank to not more than 0.7 percent).

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