Iraqi government banks suspend loans and advances
Iraqi government banks suspend loans and advances
2025-04-17 02:19
Shafaq News/ An informed source stated on Thursday that some government banks, including Rafidain Bank, have suspended granting loans and financial advances to citizens.
The source told Shafaq News Agency, “Some government banks, particularly Rafidain Bank, have stopped granting loans and advances so far, despite the passage of five months of the current fiscal year. Others have issued loans and advances, but on a very limited basis.”
He added, “The main reason behind banks’ failure to perform their credit role, including granting loans and advances, is the lack of financial allocations.”
The source also pointed out that “many citizens have called on Parliament, the Finance Committee, and the government to intervene to release loans, advances, construction loans, and home purchase loans.”
Both Rafidain and Rashid Banks provided loans and advances to employees and citizens for various purposes, such as construction, land purchases, car purchases, and other purposes, at a specific interest rate and for a predetermined period.
shafaq.com
