The launching of supplementary advances to employees of state departments

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Rafidain announces the proceeds of loans during August

 

 

 2019/10/12 01:50:03

 

Rafidain Bank announced on Saturday, the completion and granting loans of all kinds to citizens during the month of August.

The media office of the bank said in a statement received to Shafaq News that the proceeds of loans granted to citizens last August was to grant construction loans in a piece of land and small projects loans amounting to 15 million dinars, where (188) loans were granted.

The statement pointed out that citizens wishing to purchase apartments Bsmayah residential loans were granted as (69) treatment was granted to citizens, car loans were also granted to (235) transaction and loans for financial facilities, in addition to the loans of doctors of various specialties to (23) and loans Funding scientific research (13) borrowers and loans to the Shorja and Karrada fire to (3).

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Rafidain announces the launch of construction loans

 

Rafidain Bank Logo

Banks Economy News - Baghdad Rafidain Bank decided on Tuesday to grant loans of 50 million dinars to state employees and 30 million dinars to citizens of the owners of residential houses (the king of the exchange of a residential tab) for the purpose of adding construction or renovation and rehabilitation of residential houses belonging to them. "The amount of the loan for state employees is 50 million. For citizens, the loan amount is 30 million dinars," the bank's media office said in a statement seen by Al-Eqtisadiah. The statement added that "the loan guarantee mortgage on the property to be renovated and rehabilitation or add construction to the benefit of the bank and the first class and that the property in the name of the loan provider and the type of housing housing exchange Tabu residential." Views: 29   Date Added: 15/10/2019

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Al Rasheed Bank directs the promotion of citizens transactions for small loans

Economy | 01:06 - 20/10/2019

 

 

 

 

BAGHDAD - Mawazine News
The Bank of Rasheed, on Sunday, to promote the transactions of citizens for small loans loans.
A statement issued by the bank, which received (Mawazine News) a copy, that "the general manager of Rasheed Bank, Rashad Khudair Wahid held continuous meetings to implement the package of reforms called for by the government in light of the directives of the Supreme Religious Authority."
He called on the bank, investors wishing to build all residential complexes, to "review the branches to give them loans for construction."
He called on the owners of the stalled industrial plants, farmers and traders of all kinds to submit their applications to give them all banking facilities to develop and re-operate the factories for the purpose of absorbing the largest number of unemployed.
He continued, `` The directors of the departments and branches were directed to receive citizens and promote their applications for granting micro-enterprise loans to the unemployed, widows, divorced women and construction loans to all citizens, amounting to (50) million dinars, as well as loans to health professionals, advances to employees, retirees and car loans. ''
He pointed out that "work is underway to develop new services that would contribute to solving the crises suffered by the citizen."

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Al Rasheed Bank directs the promotion of citizens transactions for small loans

 

Banks Economy News _ Baghdad Rasheed Bank, on Sunday, directed the promotion of citizens' transactions for small loans loans. A statement issued by the bank, received by "Economy News" a copy of it, that "the Director General of Rasheed Bank, Rashad Khudair Wahid held continuous meetings to implement the package of reforms called for by the government in light of the directives of the Supreme Religious Authority." He called on the bank, investors wishing to build all residential complexes, to "review the branches to give them loans for construction." He called on the owners of the stalled industrial plants, farmers and traders of all kinds to submit their applications to give them all banking facilities to develop and re-operate the factories for the purpose of absorbing the largest number of unemployed. He continued, `` The directors of the departments and branches were directed to receive citizens and promote their applications for granting micro-enterprise loans to the unemployed, widows, divorced women and construction loans to all citizens, amounting to (50) million dinars, as well as loans to health professionals, advances to employees, retirees and car loans. '' He pointed out that "work is underway to develop new services that would contribute to the resolution of crises suffered by the citizen." Views: 1   Date Added: 20/10/2019

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Iraqi ministers approve simplifying lending procedures for small and medium enterprises

Central Bank of Iraq

 21 November 2019 06:14 PM

Direct: The Council of Ministers in Iraq approved the recommendations for simplifying the procedures of lending to small and medium enterprises under the initiative of the Central Bank .

According to a letter to the Council of Ministers, to the Trade Bank of Iraq, quoted by the Iraqi News Agency "conscious", on Thursday, that the latter under the supervision of the Central Bank lending investors and businessmen to small and medium enterprises within simplified procedures .

The letter read as follows :

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The document approved the simplification of the lending procedures of the Central Bank initiative

Date: Editor: 2019/11/21 17:13 • 630 times read

BAGHDAD: The Prime Minister's Office, on Thursday, the approval of the President of the Council on the recommendations of the Board of Advisors on the simplification of lending procedures for the initiative of the Central Bank.

According to the document issued by the Office, got (Euphrates News) a copy of which "attributed to your banks and under the supervision of the Central Bank of Iraq to lend investors and businessmen to new small and medium-sized enterprises and the re-operation and rehabilitation of projects and factories that require the opening of external and internal credits and the adoption of the following principles in loans: -

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Simplifying lending procedures

Monday, November 25, 2019 40

 

Baghdad / Farah al - Khuffaf 

 

As part of the reform orientation, the Cabinet decided to simplify the lending procedures of the Central Bank for Small and Medium Enterprises (SMEs) initiative.

According to the document of lending to small and medium-sized enterprises obtained by "morning", the Prime Minister's Office directed several banks and under the supervision of the Central Bank of Iraq to lend investors and businessmen to new and medium-sized enterprises and the re-operation and rehabilitation of stalled factories, which require the opening of external or internal credits.

Upgrading the national product

"The importance of this step in the promotion of the national product, as it will encourage investors to implement small and medium enterprises, in addition to the revitalization of the stalled factories," said industrial specialist Aqeel Al-Saadi. It must be followed by other steps and initiatives. "

The initiative provides for financing 80 percent of the project after completion of 20 percent by the investor, the repayment period of the loan should be 10 years with periods of repayment for the first and second years. Other than fees for opening credit.

 

Loan repayment mechanism

"The simplification of procedures by the Council of Ministers to include this initiative is a matter of importance, especially since the previous procedures were somewhat complicated," Saadi told Al-Sabah.

The loan repayment mechanism provides for: Payment of the amounts of machinery, equipment and furniture that he wishes to purchase directly to the supplier according to the enhanced invoices for purchase or the opening of documentary credits as part of the loan payment, and the payment of the lease amount directly to the landlord as part of the loan payment, if the property is rented.

It also provides for the payment of the remaining cash for the implementation of the infrastructure of the project in accordance with the completion rates, in addition to the signing of a contract and bill of exchange with an additional 30 percent of the loan amount, and pledge the factory to the Iraqi Trade Bank with the value of the loan plus 30 percent of the loan value as collateral for the loan or the issuance of a letter of guarantee in favor of The bank is one of the banks operating in Iraq and accepted by the bank, as well as personal sponsorship, and the opening of the borrower's account deposited by the proceeds of the project, and pledge to employ at least 80 percent of Iraqi labor in the project.

 

National Product Insurance

For his part, the economic specialist Khalid Al-Tamimi pointed to the "need to support small and medium enterprises by the government to enhance the security of the national product and support the market 

Local. " 

He added that the measures that can be taken by the government in support of projects will be temporary. 

Tamimi also urged "responsible authorities to simplify lending procedures, especially lending to young groups, and support small projects, which support the economy of the Iraqi family and thus achieve prosperity in society."

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Mashat: The need to keep the banking sector from what is happening in Iraq

Economy | 12:54 - 27/11/2019

 

 

 

 

Baghdad - Mawazine News
Chairman of the Board of Directors of the Arab Mashreq Bank Sadiq al-Mashat, on Wednesday, the need to spare the Iraqi banking sector from the current events in the country. "
He said in a press statement continued / Mawazine News /, key to stability in the country , "calling for " the need for the banking sector , the dimensions of what is going on from events in Iraq to maintain the sustainability of monetary policy and banking and to maintain the functioning of soft projects for youth and soft loans to resolve the crises of the Iraqi citizen. "
among that" the banks of the Iraqi lead today, as it was In the last two past The distant, and hopefully future, role of the main pillar of the survival of the Iraqi state.
Al-Mashat pointed out that "banks with all their productive and economic sectors constitute the real guarantee of the national economy, at the local level or with Arab and international financial institutions."

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Mesopotamia instructs MasterCard holders on advances and loans

 

Banks Economy News _ Baghdad Rafidain Bank announced on Friday that it has received several government departments wishing to settle the salaries of their employees and give them a MasterCard International Card. The bank said in a statement received by "Economy News" a copy of it, "has been the localization of the salaries of a number of employees of ministries and institutions of the State and give them an electronic card and receive their monthly salaries through them." He pointed out that "MasterCard holders can take advantage of the advantages and financial services launched by the bank recently from advances and loans and apply for those advances by the bank branches scattered in Baghdad and the provinces." Number of views 116   Date added 06/12/2019

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Al-Rafidain clarifies the mechanism for disbursing the advance of 25 million dinars to employees

 

Rafidain Bank logo

Banks Economy News - Baghdad The Rafidain Bank announced, on Saturday, that the advance of the 25 million dinars for employees of the endemic country whose salaries are with the bank and who have applied for it electronically, the grants will be in the form of meals and fast time periods. The media office of the bank said in a statement seen by "Al-Iqtisad News", "The predecessor of the employees of the endemic country has their salaries exclusively with the bank, which amount to 25 million dinars, to be submitted by a master card." The statement added that "the advance is by relying on the employee's salary provided that 50 percent of his monthly salary cover the monthly installment of the advance, calling on state employees to visit the bank’s branches exclusively and apply for advances." Number of views 19   Posted on 07/12/2019

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Al-Rafidayn: Building and repairing housing loans are mortgaged

 

Banks Economy News _ Baghdad The Rafidain Bank announced, on Sunday, that the 50 million loans to add construction and repair of residential homes that are granted to employees and 30 million dinars to citizens are mortgaging the property to be repaired. The bank's media office said in a statement, "Economy News" received a copy of it, that the guarantee of granting loans to add construction or restoration and the rehabilitation of residential homes for citizens will be mortgaged to the property to be repaired or rehabilitated for the benefit of the bank. The statement added that the loan to add construction or rehabilitation and renovation of residential homes amounts to 50 million dinars for employees and 30 million dinars for citizens, noting that the loan guarantee will be mortgaged to the bank for the benefit of the bank and from the first degree, provided that its estimated value covers (the amount of the loan + 20%) in addition to a salary The employee for employee borrowers. He called on citizens and employees to visit his branches in Baghdad and the provinces to apply for these loans. Number of views 120   Date added 08/12/2019

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Iraq .. 600 investment projects to accommodate one million unemployed

Flag of the country of Iraq

 08 December 2019 02:34 PM

Mubasher: The former head of the National Investment Commission in Iraq, Sami Al-Araji, revealed that there are 600 investment projects to accommodate one million young job seekers for the next year 2020 at the National Commission.

Al-Araji said, according to the Iraqi News Agency, "conscious", today, Sunday, that the operation of projects needs a loan or material support from investors.

Al-Araji added that there are 600 projects that are suspended from work between the small and medium, which were returned to the National Authority during the first half of the year 2019, and in the event of its operation, it can accommodate a million young men to work during the next three years of the five plan.

He continued: "The National Investment Commission coordinated with the Central Bank to create soft loans to restart projects, an amount of 10 million dollars has been set to be rotating during the next three years."

The former president of the Iraqi Investment Authority indicated that the success of the investment process also requires maintaining border entry points, strengthening the national product and controlling customs tariff laws.

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Calls to suppor t small and medium enterprises

Wednesday 11 December 2019 38

 

Baghdad / Farah Al-Khaffaf 

 

It is no secret to the specialists that China has achieved its industrial rise and its economy at first, thanks to the small and medium enterprises that have also contributed to reducing unemployment rates, and experts advise to apply this successful experience, which has become a global model, in Iraq.

Although the competent authorities began this during the past years, the level of their application does not meet the ambition, according to these experts.

 

Simple industries

Industrial expert, Ammar Al-Dulaimi, told Al-Sabah: “China started its economic development 70 years ago, relying on simple industries in small and medium enterprises spread in several cities, where people work in a few and medium numbers, but production met the local market before it Heading for export. ”

He added that «the Chinese experience began to expand, until the Chinese goods invaded the world», confirming the possibility of benefiting from it in the advancement of industrial reality, by providing facilities for young people who have ideas to turn them into actions, in addition to giving them loans and the distribution of land and other factors of success.

 

Youth support

He pointed out that "what the relevant authorities have provided during the past years in this field does not meet ambition, as the Iraqi youth possess the ability to innovate and work in the most difficult circumstances." He called on the House of Representatives and the government to continue supporting youth, praising at the same time the recent decisions of Parliament Regarding assigning youth.

Many economists believe that developing small and medium enterprises and encouraging their establishment is one of the most important tributaries of the economic and social development process in countries in general, as an essential platform for increasing production capacity on the one hand, and contributing to addressing the problems of poverty and unemployment on the other hand.

 

Loan cap

The Central Bank of Iraq has raised the ceiling of loans granted to finance small and medium projects, within this initiative, to (billion dinars), stressing that these loans will cover all sectors except 

Housing sector, with giving 

More space for the industrial and agricultural sectors.

The Central Bank has issued a set of controls for this lending in which it confirmed the possibility for each bank to submit projects amounting to 5 billion dinars, in one payment, depending on the form sent to each project, and that the bank will audit projects that will be funded after 6 months of The date of feeding the bank account as a maximum, without permitting the extension of the period, indicating that the loan period is up to 5 years, which can be extended to 7 years, in the event that the lending bank requests it.

 

Traditional Industries

Meanwhile, the Industrial Development Directorate of the Ministry of Industry and Minerals has granted 93 establishment licenses for new industrial projects to support young graduates from universities and institutes.

The Director General of the Directorate, Salam Saeed Ahmed, said in a statement received by Al-Sabah: “The new leaves varied between traditional industries such as food, chemical, mineral and construction, and included soap production 

Energy drinks, squeezing and packing dates, and projects for electrical appliances, in addition to industries with an uninhibited or rare pattern such as the manufacture of honey bees and medical devices ».

He added, "The number of vacations will increase during the coming period, due to the large number of graduates from all governorates."

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Al-Rafidain: Great facilities for granting advances to employees

Editing Date: 12/15/2019 8:51 • 167 times read

{Baghdad: Al Furat News} Al-Rafidain Bank affirmed that the facilities that were established to grant advances to state employees electronically and citizenship their salaries with the bank, which ranges between {5, 10, 15, 20 and 25} million dinars, which made it difficult to receive for a long time.

The media office of the bank said in a statement received by the agency {Euphrates News} a copy of it, that "the period of granting the advance may reach up to a first week less than that, according to the audit procedures taken by the bank that pave the way for its launch."
He pointed out that "the presentation of the advances electronically and through the bank’s branches in Baghdad and the provinces, and the application will take only five minutes at the bank’s branches."

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Rafidain Bank recovers arrears of more than 16 billion dinars

Iraqi coins

 08 January 2020 12:30 PM

Direct: Iraqi Bank of Iraq, today, Wednesday, the recovery of more than 16 billion dinars sums from the reluctant.

The media office of the bank clarified in a statement today, Wednesday, that the total sum of money recovered from the delayers who refrained from paying their debts during the year 2019 amounted to more than 16 billion dinars.

He added that the bank is continuing its aggressive procedures to retrieve the bank’s money from those who have fallen behind, who failed to pay the money from advances and loans, and to take all legal methods against everyone who refuses to do so.

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The launching of supplementary advances to employees of state departments

Saturday January 11, 2020 76

 

Baghdad / Al-Sabah 

 

 

Rafidain Bank has launched additional supplementary advances to employees of state departments whose amounts range between 5, 10, 15, 20 and 25 million dinars.

The bank said, in a statement received by Al-Sabah, that the advances were disbursed according to the employee’s salary estimate through the Master Card, indicating that more than 500 employees who had been previously given personal and had been disbursed were given the second additional advance. The statement indicated that the disbursement of this advance was made through the employee's fingerprint and then informed by sending a text message informing him of granting the advance, indicating that these steps are taken after the bank completes all legal procedures for disbursing it through electronic payment tools for which the financial balance has been filled.