yota691 Posted February 20, 2021 Report Share Posted February 20, 2021 The Central Iraqi: Start of distributing the 15 million dinars loan initiative in private banks The currency of Iraq - archive 20 February 2021 03:17 PM Mubasher: The Central Bank of Iraq revealed, today, Saturday, the beginning of the distribution and receipt of the 15 million dinars loan initiative in private banks. The media office of the Central Bank stated in a special statement to the Iraqi News Agency (INA), that "private banks have started distributing a loan of 15 million dinars to employees whose salaries are settled in private banks by adopting the Master Card." He explained that "the instructions of the initiative are supposed to include government banks as well, and the decision is up to them to invest this initiative to provide its services to the national employees with their salaries there." The media office indicated that "those wishing to receive the loan can go to banks to promote transactions and receive the loan within one day with an administrative commission not exceeding 4 percent and without interest." 2 2 Quote Link to comment Share on other sites More sharing options...
yota691 Posted February 20, 2021 Author Report Share Posted February 20, 2021 Central Bank: to start distributing and receiving the 15 million dinars loan in private banks after the days of total ban Saturday 20 February 2021 14:52 | Economical Views: 226 Baghdad / NINA / The Central Bank announced the start of distributing and receiving the 15 million dinars loan in private banks, after the days of total ban. The bank stated in a statement: “Those wishing to receive the loan can go to banks to promote transactions and receive the amount within one day with an administrative commission not exceeding 4 percent and without interest.” / End 7 1 Quote Link to comment Share on other sites More sharing options...
Longtimelurker Posted February 20, 2021 Report Share Posted February 20, 2021 Sounds like the banks are finally stimulating the private sector... The banks wouldn't do this unless they're confident the loans can be paid back. Hmmm.. Something is happening and I think we are in a great position. 2 1 2 Quote Link to comment Share on other sites More sharing options...
yota691 Posted February 20, 2021 Author Report Share Posted February 20, 2021 The Central Bank: The 15 million dinars loan can be received within one day Sweeteners 2021-02-20 | 08:11 Source: Sumerian 10,251 Views Today, Saturday, the Central Bank of Iraq revealed that it has started distributing and receiving the 15 million dinars loan initiative in private banks. The media office of the Central Bank said in a statement carried by the Iraqi News Agency that "private banks have begun distributing a loan of 15 million dinars to employees whose salaries are settled in private banks by adopting the Master Cadre card." He explained that "the instructions of the initiative are supposed to include government banks as well, and the decision is up to them to invest this initiative to provide their services to the national employees with their salaries." Without benefits. " 3 2 Quote Link to comment Share on other sites More sharing options...
yota691 Posted February 20, 2021 Author Report Share Posted February 20, 2021 Central Bank: Private banks have started granting a loan of 15 million dinars Editing date: 2021/2/20 15:05 • 47 times read http://www.alliraqnews.com/uploads/news/image/medium/story_img_6030fb1cd5385.jpg [Baghdad-Where] The Central Bank of Iraq revealed, on Saturday, the beginning of the distribution and receipt of the 15 million dinars loan initiative in private banks. The media office of the Central Bank stated, according to the official agency, that "private banks have started distributing a loan of 15 million dinars to employees whose salaries are domiciled in private banks by adopting the Master Cadre card." He explained that "the instructions of the initiative are supposed to include government banks as well, and the decision is up to them to invest this initiative to provide services to the citizen employees with their salaries." The office indicated that "those wishing to receive the loan can go to banks to promote transactions and receive the loan within one day with an administrative commission not exceeding 4% and without interest." 2 Quote Link to comment Share on other sites More sharing options...
wellwisher Posted February 20, 2021 Report Share Posted February 20, 2021 Why does this sound like a translation issue? $15 mil is around $10,000. Through MasterCard, without interest? When was the last time M/C did anything without interest? Sounds like an initial balance transfer or cash advance with $0 interest for a specific time period (18 months?) not mentioned in the details. 3 Quote Link to comment Share on other sites More sharing options...
Longtimelurker Posted February 20, 2021 Report Share Posted February 20, 2021 4 minutes ago, wellwisher said: Why does this sound like a translation issue? $15 mil is around $10,000. Through MasterCard, without interest? When was the last time M/C did anything without interest? Sounds like an initial balance transfer or cash advance with $0 interest for a specific time period (18 months?) not mentioned in the details. Good way to stimulate the economy👍 2 4 1 Quote Link to comment Share on other sites More sharing options...
Laid Back Posted February 20, 2021 Report Share Posted February 20, 2021 Bring your chunky cash, open an account, get a Master Card and a loan for 15 million IQD. Agree with you Longtimelurker; Great way to get the chunky cash, increase financial inclusion, stimulate the economy and develop private sector.! Go budget 2021 Go HCL Go delete of the 000 Go RV 1 3 4 2 Quote Link to comment Share on other sites More sharing options...
Longtimelurker Posted February 20, 2021 Report Share Posted February 20, 2021 3 hours ago, Laid Back said: Bring your chunky cash, open an account, get a Master Card and a loan for 15 million IQD. Agree with you Longtimelurker; Great way to get the chunky cash, increase financial inclusion, stimulate the economy and develop private sector.! Go budget 2021 Go HCL Go delete of the 000 Go RV Same day approval too. They want this money out there quick👍 1 2 Quote Link to comment Share on other sites More sharing options...
Theseus Posted February 20, 2021 Report Share Posted February 20, 2021 6 hours ago, wellwisher said: Why does this sound like a translation issue? $15 mil is around $10,000. Through MasterCard, without interest? When was the last time M/C did anything without interest? Sounds like an initial balance transfer or cash advance with $0 interest for a specific time period (18 months?) not mentioned in the details. Islamic banking system is a usury system. Meaning it is illegal to charge interest on money loaned. Islamic banking, also referred to as Islamic finance or shariah-compliant finance, refers to finance or banking activities that adhere to shariah (Islamic law). ... Islamic banks make a profit through equity participation, which requires a borrower to give the bank a share in their profits rather than paying interest. 1 2 Quote Link to comment Share on other sites More sharing options...
Longtimelurker Posted February 20, 2021 Report Share Posted February 20, 2021 9 minutes ago, Theseus said: Islamic banking system is a usury system. Meaning it is illegal to charge interest on money loaned. Islamic banking, also referred to as Islamic finance or shariah-compliant finance, refers to finance or banking activities that adhere to shariah (Islamic law). ... Islamic banks make a profit through equity participation, which requires a borrower to give the bank a share in their profits rather than paying interest. Great info! Thank you Quote Link to comment Share on other sites More sharing options...
screwball Posted February 20, 2021 Report Share Posted February 20, 2021 10 hours ago, yota691 said: private banks have started distributing a loan of 15 million dinars to employees whose salaries are settled in private banks by adopting the Master Card." 4 hours ago, Laid Back said: Bring your chunky cash, open an account, get a Master Card and a loan for 15 million IQD. Agree with you Longtimelurker; Great way to get the chunky cash, increase financial inclusion, stimulate the economy and develop private sector.! Go budget 2021 Go HCL Go delete of the 000 Go RV Gets close to boom time! Great for driving liquidity to private banks! 1 1 3 Quote Link to comment Share on other sites More sharing options...
yota691 Posted February 20, 2021 Author Report Share Posted February 20, 2021 Private banks start granting 15 million dinars loan Sunday February 21, 2021 13 Baghdad: Morning Yesterday, Saturday, the Central Bank announced the beginning of the distribution and receipt of the 15 million dinars loan initiative in private banks. The media office of the bank stated to the “awareness”, that “the private banks have started distributing a loan of 15 million dinars to the employees whose salaries are settled by adopting the Master Card.” He explained that "the initiative's instructions include government banks as well," noting that "those wishing to go to banks to promote transactions and receive the loan within one day with an administrative commission not exceeding 4% and without interest." 1 Quote Link to comment Share on other sites More sharing options...
NMP2017 Posted February 21, 2021 Report Share Posted February 21, 2021 hmmm...looks like Warka Bank is in on this too 2 Quote Link to comment Share on other sites More sharing options...
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