Cabinet Secretariat reveal an integrated electronic system to regulate loan administration

Our economy / Baghdad - General Secretariat of the Council of Ministers confirmed the presence of government efforts to create an integrated electronic system of his mission to organize the loans allocated by the Government for the development of a number of sectors, including housing, agriculture and industry management process, as well as small projects for young people and the unemployed.

A source in the Secretariat that it will be through the implementation of this project is to simplify the process of government lending program which is funded by the Iraqi Central Bank amounting to select six trillion dinars for the sectors of industry, agriculture and housing procedures.

He added that the said digital system contains special forms for the three banks (industrial, agricultural and real estate) specialized to grant loans to the concerned authorities of the citizens, that will control the movement of data, and authentication of health and the prevention of fraud or abuse of these funds.

Revealing that the management process of granting these loans between banks and the beneficiaries of the borrowers will be through a project to simplify government procedures, which recently launched by the Government, adding that the loan department for small, medium and large also for projects, will go on according to the conditions fixed and standards set by the Central Bank of Iraq for this purpose.