EFI: Central Bank called for lower interest rates on industrial loans

Last updated 10/04/2016 - 00:05 Views 89
Economy News / special

Iraqi Federation of Industries revealed that the CBI called for interest rates on industrial loans reduced in order to support this sector.

He said EU member Muhannad punitive in an interview for "Economy News," The CBI demanded from the industrial and bank Rafidain and Rasheed Bank to reduce interest rates for loans granted to the private industrial sector. Noting that the Iraqi Central Bank excluded the two initiatives (1 and 5) trillion dinars already being supported by and within the industrial initiative.

Punitive and added that the CBI stressed to continue granting those loans and procedures simplified, accessible and reasonable conditions serve the Iraqi economy and supports local product.

The central bank announced last September, the launch of five trillion dinars loans to banks , "industrial, agricultural, real estate" housing fund, for five years , including grace for a period of six months, extendable to five years with the approval of the central bank 's management and at the request of the borrower 's bank or fund .