Banks: We are waiting for a notification from the Finance Ministry to launch salaries within 24 hours

[Mary B]

The central bank cuts loan interest to support the economic and productive sectors

Tuesday 30, June 2020 

Baghdad / Nina / The Central Bank of Iraq announced a reduction in loan interest to support the economic and productive sectors.

A statement of the bank stated that the Iraqi National News Agency ( NINA ) received a copy of it: He decided, and with the continuation of the economic repercussions caused by the Corona pandemic and the restrictions it imposed on economic activity in most of the productive and service sectors and the decline in oil revenues, enhancing the liquidity of the existing projects / that were funded from The initiative (one trillion) in the amount of (5) million dinars for those wishing to do so, with the guarantees of the same project in exchange for administrative commissions and without interest.

He directed banks and guarantor companies to reduce interest from (4.8%) to (3.5%) for borrowers within the 1-20 million dinar segment and reduce the bank loan interest from the 21 million to 1 billion dinar segment after it was (6.3%) to become (4%). Projects related to the tourism, hotels and restaurants sectors whose recovery may be prolonged by considering postponing their installments for a longer period until they recover from the pandemic crisis. / End 3

https://ninanews.com/Website/News/Details?Key=841157

 

[Mary B]

The Central Bank of Iraq cuts loan interest

 

 

 

 

The Central Bank of Iraq cuts loan interest

 06/2020 2020 

 

Shafaq News / The Iraqi Central Bank announced on Tuesday a reduction in loan interest to support the economic and productive sectors.

A statement issued by the bank responded to Shafaq News, that with the continued economic repercussions caused by the Corona pandemic and the restrictions imposed by it that curbed economic activity in most of the productive and service sectors and the decline in oil revenues, the Central Bank of Iraq decided to enhance the liquidity of the "existing projects" that were funded from an initiative (One trillion), at an amount of (5) million dinars, for those wishing to do so, with the guarantees of the same project in exchange for administrative commissions and without interest.

The statement added that the Central Bank directed banks and guarantor companies to reduce interest from (4.8%) to (3.5%) for borrowers within the 1-20 million dinar segment and reduce the bank loan interest from the 21 million to 1 billion dinar segment after it was (6.3%) to become (4) %).

The statement also added that the bank also directed banks to take into account projects related to the tourism, hotels and restaurants sectors whose recovery might be prolonged by studying postponing their premiums for a longer period until recovering from the pandemic crisis.

 

https://www.shafaaq.com/ar/اقتصـاد/البنك-المركزي-العراقي-يخفض-فائدة-القروض/

[Mary B]

The Central Bank of Iraq supports borrowers with financial facilities and issues guidance for tourism companies, restaurants and hotels

2020-06-30

Yassin Iraq: Baghdad

The Central Bank of Iraq decided, today, Tuesday, to reduce the interest of loans in order to support the economic and productive sectors, in light of the outbreak of the Corona virus.

The media office of the bank stated in a statement received by "Yassin Iraq" that "with the continued economic repercussions caused by the Corona pandemic and the restrictions imposed by it that curbed economic activity in most of the productive and service sectors, and the decline in oil revenues, the Central Bank of Iraq decided to enhance the liquidity of existing projects, which were Funding it from the (one trillion) initiative in the amount of (5) million dinars for those wishing to do so, with the guarantees of the same project in exchange for administrative commissions and without interest.

The statement added, “The central bank directed banks and guarantor companies to reduce interest from (4.8%) to (3.5%) for borrowers within the 1-20 million dinar segment and reduce bank loan interest from the 21 million to 1 billion dinar segment after it was (6.3%) ) To become (4%). ”

He pointed out that "the central bank also directed banks, taking into account projects related to the tourism, hotels and restaurants sectors whose recovery may be prolonged by studying postponing their premiums for a longer period until they recover from the pandemic crisis."

https://yesiraq.com/المركزي-العراقي-يدعم-المقترضين-بتسهي/

[Mary B]

Central Bank: Reducing loan interest to support the economic and productive sectors

2020-06-30 

 

The Central Bank of Iraq announced today, Tuesday, the reduction of loan interest to support the economic and productive sectors.

The bank said in a statement, Alsumaria News received a copy of it that it decided to "enhance the liquidity of the existing projects that were funded by the (one trillion) initiative by an amount of (5) million dinars for those who wish to do so, with the guarantees of the same project in exchange for administrative commissions and without interest."

 

He added that he directed the "banks and guarantor companies to reduce interest from (4.8%) to (3.5%) for borrowers within the 1-20 million dinars segment and reduce the bank loan interest from the 21 million to 1 billion dinars segment after it was (6.3%) to become (4%) ).

He added that he also directed banks to take into account projects related to the tourism, hotels and restaurants sectors whose recovery might be prolonged by studying the postponement of their premiums for a longer period until they recover from the pandemic crisis.

 

The bank pointed out that "these decisions come with the continued economic repercussions caused by the Corona pandemic and the restrictions imposed by it that curbed economic activity in most of the productive and service sectors and the decline in oil revenues."

The Central Bank of Iraq had announced the launch at the end of the year 2015 of the one trillion initiative to finance small and medium projects, with the aim of encouraging young people to invest in the agricultural, industrial, commercial and service sectors.

 

https://www.alsumaria.tv/news/اقتصاد/350412/البنك-المركزي-تخفيض-فائدة-القروض-لدعم-القطاعات-الا?src=rss&utm_campaign=rss&utm_source=Rss-articles&utm_term=Rss&utm_medium=Rss-350412

[Mary B]

Central bank cuts interest on small and medium loans from 6.3% to 4%

 06/30/2020

 

  

Information / Baghdad ..
The Association of Iraqi Private Banks announced, on Tuesday, the Central Bank of Iraq reduced the interest rate on loans within the initiative of the Central Bank of Iraq from 6.3% to 4% to accelerate the pace of recovery of the Iraqi economy after being damaged by the Corona pandemic.
The executive director of the Iraqi Private Banking Association, Ali Tariq, said in a statement that he received / the information, a copy of it, that “the economic activity in Iraq witnessed a decline during the past days due to the direct impact of the Corona pandemic on the global economy and the drop in oil prices, which reduced Iraq’s revenues during the last period, Therefore, the Central Bank of Iraq decided to reduce the interest rate on its initiative to support micro, small, medium and large projects in support of the national economy.
Tariq pointed out that "the Central Bank of Iraq decided to cut interest on loans that end at 20 million from 4.8% to 3.5%, while loans that start from 21 million dinars to one billion dinars, interest will be 4% after it was 6.3%."
The Executive Director of the Association of Private Banks stressed that "the reduction of interest is aimed at supporting national products in order to reduce foreign imports." He explained that "the Central Bank of Iraq is currently considering postponing loan installments for projects related to tourism, hotels and restaurants as a result of the suspension of its business over the past period due to the Corona pandemic." Ended / 25

 

https://www.almaalomah.com/2020/06/30/482530/

[Mary B]

Association of Private Banks: the central bank reduced interest on small and medium loans from 6.3% to 4%

 

Ali Tariq - Executive Director of the Iraqi Private Banking Association. "Economy News"

The Economy News - Baghdad The Association of Iraqi Private Banks announced, on Tuesday, the Central Bank of Iraq reduced the interest rate on loans within the initiative of the Central Bank of Iraq from 6.3% to 4% to accelerate the recovery of the Iraqi economy after being affected by the Corona pandemic. The executive director of the Iraqi Private Banking Association, Ali Tariq, said in a statement received by "Al-Iqtisad News" that "the economic activity of Iraq has witnessed a decline during the past days due to the direct impact of the Corona pandemic on the global economy and the drop in oil prices, which reduced Iraq’s revenues during the last period, so The Central Bank of Iraq decided to reduce the interest rate on its initiative to support micro, small, medium and large projects in support of the national economy. Tariq pointed out that "the Central Bank of Iraq decided to cut interest on loans that end at 20 million from 4.8% to 3.5%, while loans that start from 21 million dinars to one billion dinars, interest will be 4% after it was 6.3%." The Executive Director of the Association of Private Banks stressed that "the reduction of interest is aimed at supporting national products in order to reduce foreign imports", explaining that "the Central Bank of Iraq is currently considering postponing loan installments for projects related to tourism, hotels and restaurants as a result of the suspension of its business over the past period due to the Corona pandemic."

Date added 06/30/2020   http://economy-news.net/content.php?id=20885

[Mary B]

Tuesday, June 30, 2020 

 

Because of Corona ... new measures for the central bank to support the economic and productive sectors

 

 

 

With the continuing economic repercussions caused by the Corona pandemic and the restrictions that imposed economic activity in most of the productive and service sectors and the decline in oil revenues, the Central Bank of Iraq decided to enhance the liquidity of the “existing projects” that were funded from the (one trillion) initiative in the amount of (5) million dinars for those wishing Thus, the project guarantees the same for administrative and interest-free commissions.
The Central Bank also directed banks and guarantor companies to reduce interest from (4.8%) to (3.5%) for borrowers within the 1-20 million dinar segment and reduce the bank loan interest from the 21 million to 1 billion dinar segment after it was (6.3%) to become (4%) ).
The Central Bank also directed banks to take into account projects related to the tourism, hotels and restaurants sectors whose recovery might be prolonged by considering postponing their premiums for a longer period until recovering from the pandemic crisis.

 

https://www.thebaghdadpost.com/ar/Story/197754/بسبب-كورونا-إجراءات-جديدة-للبنك-المركزي-لدعم-القطاعات-الاقتصادية-والإنتاجية

[Mary B]

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GM Mary B AND DV. 

[Mary B]

The secret of delaying salaries is "evolving" .. A "strongly worded" warning from one of the ministries to government banks and "payment" cards: Launch salaries immediately!

2020-06-30

Yassin Iraq: Baghdad

The Oil Products Distribution Company of the Ministry of Oil sent a "strongly worded" ultimatum to Al-Rasheed and Al-Rafidain Banks, due to the delay in spending the salaries of the company's employees for two consecutive months, without knowing the reasons.

A document seen by Yassin Iraq, directing the Oil Products Distribution Company to Al-Rashid and Al-Rafidain banks, showed a strong warning, that commitment to the terms of the salary settlement agreement signed between the company and the two banks should be adhered to, while the company threatened to end the contract and bank compensation.

 

https://yesiraq.com/سر-تأخير-الرواتب-يتطور-إنذار-شديد-الل/

[Mary B]

In the document .. A governmental company for Rafidain and Al-Rasheed banks: I have been excused

 Time: 7/20/2020 

 

 

  

{Baghdad: Al Furat News} The Oil Products Distribution Company affiliated to the Ministry of Oil warned, on Wednesday, Al-Rasheed Bank and Al-Rafidain Bank, due to the delay in the payment of salaries of its employees.

The document issued by the company included the agency (Al Furat News) obtained a copy of it, addressing the Al-Rashid and Al-Rafidain bankers, that "given the repeated delay in private salaries of our company employees, and the citizenship of their salaries with you for the second month in a row on the Master Card from the date of June 16 of this year, and until The date of June 30, contrary to the provisions of Item (Fourth / Second Party Obligations / Second Paragraph) which stipulates (the delivery of salaries to employees of the first party no later than the 23rd of each month), which constitutes a clear violation of your commitment to the terms of the agreement and according to the provisions of Article Eight / General Provisions / Paragraph 7 of them. "
In the document: "We warn you that the terms of the agreement must be adhered to and pay the salaries of our employees who are yours in an urgent manner, and not delay the payment of salaries for the coming months. Excuse me. "
Ammar Al-Masoudi finished

 

https://alforatnews.com/news/بالوثيقة-شركة-حكومية-لمصرفي-الرافدين-والرشيد-قد-أعذر-من-أنذر

[Mary B]

An Iraqi state institution warns Al-Rafidain and Al-Rasheed banks about salary delays and wavers legal procedures (document)

2020-07-01

Yassin Iraq: Baghdad

Today, Wednesday, the Oil Products Distribution Company affiliated to the Ministry of Oil warned Al-Rasheed Bank and Al-Rafidain Bank because of the delay in paying the salaries of its employees.

The document issued by the company and received by “Yassin Iraq” addressed to Al-Rashid and Al-Rafidain bank, that “given the repeated delay of private salaries of our company employees, and the citizenship of their salaries with you for the second month in a row on the Master Card from the date of June 16 of this year, and until the date of June 30 contrary to the provisions of Item (Fourth / Second Party Obligations / Second Paragraph) which states (the delivery of salaries to the employees of the first party no later than the 23rd of each month), which constitutes a clear violation of your commitment to the terms of the agreement and according to the provisions of the eighth item / general provisions / paragraph 7 thereof.

In the document: “We warn you that the terms of the agreement must be adhered to and pay the salaries of our employees in your country urgently, and not delay the payment of salaries for the coming months. Otherwise, legal measures will be taken against you, including ending the agreement and asking you for compensation, and charging you any expenses resulting from this breach.”

 

https://yesiraq.com/إحدى-مؤسسات-الدولة-العراقية-تنذر-مصرف/

[Mary B]

An investing company is suing Iraq and is seeking compensation for more than one billion dollars     01/07 | 12:11  site won't copy check link   https://baghdadtoday.news/ar/news/124387/شركة-مستثمرة-ترفع-دعوى-ض