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The Central Bank of Iraq decides to postpone the payment of loan installments for a period of three months

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The Central Bank of Iraq decides to postpone the payment of loan installments for a period of three months

Central Bank Governor Ali Al-Alaq, "Al-Iqtisad News"
  
 http://economy-news.net/content.php?id=19382

Economy News - Baghdad:

The Governor of the Central Bank of Iraq, Ali Al-Alaq, announced that the loan installments were postponed for a period of three months due to the current crisis in Iraq.

Al-Alaq said in a press statement received by "Al-Iqtisad News", that "in light of the circumstances the country is going through, and for the purpose of relieving the financial burdens on clients with the banking system, the Central Bank decided to postpone the payment of the premiums from the beneficiaries of its initiatives to support small and medium-sized projects (two initiatives And five trillion dinars) for a period of three months, including real estate bank and housing fund loans funded by the central bank, and that the postponement does not result in any increase in interest.

He added that the Central Bank is continuing its consultations with the various bank departments for the purpose of taking appropriate measures from them regarding other types of loans.

Number of views 53 Date added 21/03/2020

Edited by 6ly410
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LMAO!!! These thieves have no shame. In one breath they say their stopping the payment of loans for 3 months an in the next breath begging for more loans. 
Is there any hope for this basackwards country???

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Why the Iraqi population has not risen up in a full blown armed insurrection by now is astonishing. The protests & demonstrations clearly are not working after 6 months. Time to change the dynamic.

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Man wouldn’t it be nice to just decide not to pay back the money you were loaned out for a few months.. and then just decide, hey, we need more money from loans... I take it their “credit score” means nothing.. My bank would laugh me out of there if I walked in asking for money but also decided not to pay on previous loans.. 

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3 hours ago, GregHi said:

Man wouldn’t it be nice to just decide not to pay back the money you were loaned out for a few months.. and then just decide, hey, we need more money from loans... I take it their “credit score” means nothing.. My bank would laugh me out of there if I walked in asking for money but also decided not to pay on previous loans.. 

Dont be surprised mate.. its Iraq.. anything can happen there.. country of all thieves.. 

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6 hours ago, 6ly410 said:

The Central Bank of Iraq decides to postpone the payment of loan installments for a period of three months

Central Bank Governor Ali Al-Alaq, "Al-Iqtisad News"

 

LINK

The Central Bank of Iraq decides to postpone the payment of loan installments for a period of three months


1145.jpg
 

21st March, 2020  (stock photo from approx. 2 yrs ago)

 

The Governor of the Central Bank of Iraq, Ali Al-Alaq, announced that the loan installments were postponed for a period of three months due to the crisis that Iraq is currently going through

Al-Alaq said in a press statement received by "Al-Iqtisad News", that "in light of the circumstances the country is going through, and for the purpose of relieving the financial burdens on clients with the banking system, the Central Bank decided to postpone the payment of the premiums from the beneficiaries of its initiatives to support small and medium-sized projects (two initiatives And five trillion dinars) for a period of three months, including real estate bank and housing fund loans funded by the central bank, and that the postponement does not result in any increase in interest

He added that the Central Bank is continuing its consultations with the various bank departments for the purpose of taking appropriate measures from them regarding other types of loans

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8 hours ago, GregHi said:

Man wouldn’t it be nice to just decide not to pay back the money you were loaned out for a few months.. and then just decide, hey, we need more money from loans... I take it their “credit score” means nothing.. My bank would laugh me out of there if I walked in asking for money but also decided not to pay on previous loans.. 

If you had all the oil and resources they have you wouldn't care what your credit rating is. 

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The central bank sends a letter to banks regarding loans and advances

: 03/22/2020  

The central bank sends a letter to banks regarding loans and advances
  
{Baghdad: Al Furat News} The Governor of the Central Bank of Iraq, Ali Al-Alaq, sent a letter to the banks regarding the conditions in the country and stopped most of the income-generating activities, which weakened the ability of dealers with banks with loans or advances to fulfill their obligations during the period of restricting the movement called for by the efforts to confront Corona pandemic ..

The Governor of the Bank called in a statement, received by the agency {Euphrates News} a copy of it, “The banks’ departments to take important steps in postponing the claim for installments of loans and advances alike.
The Governor of the Central Bank indicated that "the social function of banks calls for such a modest step compared to what the society is looking for from the effective steps of the banking system."
It is noteworthy that the government crisis cell recommended today in its decisions to stop loan deductions on state employees and return them when the situation improves and banks continue to operate.
The Crisis Cell also decided to exclude employees of the Ministry of Finance, the accounting and budget departments, and government banks from the curfew.
Ammar Al-Masoudi ended

 

https://alforatnews.com/news/%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%8A%D9%88%D8%AC%D9%87-%D8%B1%D8%B3%D8%A7%D9%84%D8%A9-%D8%A7%D9%84%D9%89-%D8%A7%D9%84%D9%85%D8%B5%D8%A7%D8%B1%D9%81-%D8%A8%D8%AE%D8%B5%D9%88%D8%B5-%D8%A7%D9%84%D9%82%D8%B1%D9%88%D8%B5-%D9%88%D8%A7%D9%84%D8%B3%D9%84%D9%81

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The Governor of the Central Bank issues a directive to banks regarding the deferral of claims for installments of loans and advances

  http://economy-news.net/content.php?id=19391
 
Economy News _ Baghdad

On Sunday, the Governor of the Central Bank, Ali Al-Alaq, issued a directive to banks regarding the postponement of claims for loan and advances installments against the background of the conditions in which the country is passing and the suspension of most income-generating activities.

The media office of the bank said in a statement, "Economy News" received a copy of it, "The Governor of the Central Bank of Iraq sent a message to the banks regarding the conditions in the country and stopped most of the income-generating activities, which weakened the ability of dealers with banks with loans or advances to fulfill their obligations within a period of time." Restriction of the movement brought up by the efforts to tackle the Corona epidemic. "

Al-Alaq called, according to the statement, the bank departments to "take important steps in postponing the claim for loan and advances installments alike, which the central bank has taken to postpone the claim for loan installments related to its initiatives in financing small and medium projects."

He hinted that "the social function of banks calls for such a modest step in comparison to the active aspirations of society from the banking system."

It is noteworthy that the Central Bank of Iraq decided, yesterday, Saturday, to postpone the payment of premiums from beneficiaries of its own initiatives.

Number of views 18 Date added 22/03/2020

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