26/1/2010 3:39 pm
An official at the Bank of a statement it was decided to launch the predecessor to all staff in the State and all organizations covered by the regulations and the Ministry of Finance through the Bank's branches in Baghdad and the provinces.
The source added to the reporter (News Agency Iraqi media / conscious) That it was based on the directives of the Minister of Finance for the purpose of opening channels of investment bank and to contribute to alleviate the burdens on society.
The source indicated that advances will include government employees in accordance with guidelines and procedures will be later on that not to exceed the amount of the advance (5) Million dinars and not exceeding the monthly deduction for premium and interest on (50%) of the total income of the borrowers and an annual interest rate (6%) The repayment period is five years and credit the employee who has installed the service of not less than one year after the sponsor to provide a guarantor.
The source noted that "advances retirees not to exceed three million dinars, and an interest rate (6%) per year and the duration of payment of six years after the submission sponsor and conduct of the branches that are pension payments."
As advances journalists, he stressed that a "be Borrower staff and to ensure sponsor and the amount of the advance four million dinars, an annual interest rate (7%) and the duration of payment of four years. "
He explained, "all the above categories can get new advance after payment of the remaining installments of the first advance."
As the source "that the bank fired marriage rate advances amounting to three million dinars, an annual interest rate (6%) and the duration of payment of three years.
http://al-iraqnews.net/new/local/52188.html
Tuesday, January 26, 2010
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1 comment:
Does anyone have insight as to the implications of this event? On the surface, it's looks real bad for us investors. It appears that the GOI has no intentions of an RV if they're willing to loan out 3 million dinars (potentially millions of dollars). Example: I'm an Iraqi citizen and I need to borrow up to 3 million dinars, so i do and then it RV's. Why wouldn't I want to do this just like the American's are doing?
IMO........this does not bode well for a potential RV at all. Can someone calm my nerves about this please?
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