Economist points to imbalance in bank interest rates for investment loans
Economist points to imbalance in bank interest rates for investment loans
2-7-2025
Information/Baghdad…
Economic expert Diaa Al-Mohsen pointed out, on Friday, a defect in bank interest rates for investment and personal loans due to their rates rising to more than 50 percent.
Al-Mohsen told Al-Maalouma, “The government continues to grant investment and personal loans, but the problem does not lie in their number, but in the high interest rates. This is clear at Rafidain Bank, whose interest rate on loans reached 56 percent.”
He added that “the banks have imposed impossible conditions on the borrower that he cannot bear, and this matter confirms the existence of a clear defect in the banking system, while there are many sectors from which the state can obtain interest instead of resorting to raising the bank interest rate.”
He explained that “private and government banks are restricted by the policies of the Central Bank, which has placed restrictions on them regarding investment, and prevented them from going to work in the investment sector, and nothing remains except the loans granted to investors and individuals.”
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