The Central Bank decides to reduce the interest on the “1 trillion initiative” loans

The Central Bank decides to reduce the interest on the “1 trillion initiative” loans

Wednesday 3 March 2021 | 10:12 a.m.

The Central Bank decides to reduce the interest on the 1 trillion initiative loansThe Central Bank decided, Wednesday (March 3, 2021), to reduce all interest imposed on loans granted within the “1 trillion initiative”, indicating that this comes in consideration of the current exceptional circumstances .

A statement said, ” The Central Bank of Iraq is keen to take into account the current exceptional circumstances related to the financial and economic aspect and the repercussions of the Corona pandemic, so this bank decided to” reduce all the interest imposed on loans granted within the initiative of the Central Bank of Iraq (1) trillion dinars, “and as below. :

1 – reducing the usefulness of the Iraqi Central Bank for large projects to be (1%) rather than (2 %).

2 – lower interest banks on housing loans to be (2%) rather than (4 %)

3 – Amendment of the Central Bank commission (housing loans) to be (5 per thousand) instead of (7 per thousand ).

4- All interests for the banks and guarantor companies are “diminishing”.

aynaliraqnews.com