Stop government loans and advances
Stop government loans and advances
2024-12-02 01:54
Shafaq News/ A government source reported on Monday that all loans and advances in Iraqi government banks have been stopped due to the end of the fiscal year.
The source told Shafak News Agency that “stopping loans and advances came as an annual procedure followed at the end of the year, with the aim of liquidating the suspended amounts, preparing the annual statistics and inventory, and organizing the financial budgets.”
The source added, “Loans and advances will resume being issued at the beginning of the new fiscal year.”
Iraqi government banks are working to launch advance and loan programs targeting various categories, including employees, retirees, and small business owners, varying between short and long term, as this sector is witnessing wide demand from citizens.
The fiscal year of government banks in Iraq ends at the end of December each year, where some financial operations are temporarily suspended to conduct annual settlements and close accounts. Financial activities resume at the beginning of the new year, including granting advances and loans, according to updated financial plans and approved procedures.
The fiscal year of government banks in Iraq ends at the end of December of each year, when some financial operations are temporarily suspended to conduct annual settlements and close accounts. Financial activities are resumed at the beginning of the new year, including granting advances and loans, according to updated financial plans and approved procedures.
shafaq.com
