Central Bank of the Republic: Facility for loans for small and medium enterprises by adopting (bill of exchange)

Monday, October 22, 2018 - 02:47 PM

The Central Bank of Iraq announced on Monday the establishment of controls to facilitate borrowing for small and medium enterprises by adopting the legal guarantee (bill of exchange).

The director general of financial operations in the Central Bank, Mahmoud Mohammed, told Al-Marbad radio that the Central allocated one trillion dinars for small projects and there are medium and large projects of up to 100 million dinars.

He added that among the conditions that the Central Bank of the issuance of loans, including that is that the borrower has a real project with guarantees include government employee or legal guarantee (bill), noting that the benefits do not exceed 6% and repayment up to 7 years.




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