"He added that the bank has the potential to open other branches in a number of neighbors with economic relations good with the country in addition to States, home to a large number of Iraqis, such as Iran, Lebanon, Egypt, Tunisia and Malaysia, indicating that the move will provide banking services to the Iraqis to transfer funds and receive salaries retirees and other services, in addition to access to credit"
September 20, 2010
Political First: good: small loans exemption from the requirement to escrow
Has some one trillion dinars of credit activities
بغداد – وفاء عامر BAGHDAD - Wafaa Amer
Rasheed Bank announced the granting of more than 500 loan to the owners of small craft since last July, and decided to exempt owners of real estate to provide a guarantee in return for the loan amount, while the revenues of the bank credit activities of some one trillion dinars.
The bank manager Kazem Mohammed fistula in a special statement for the "morning" that the bank started since July the granting of small and medium loans to the owners of trades and professions of the industrial and agricultural as well as small traders who have work permits official, adding that the loan amount determined according to the project after his thoroughly by specialists in the bank.
The interest rate on the loan amount to 10 percent and the duration of payment of two years, revealing that the bank issued during the current year a decision to abolish this segment of the provision of a security estate in exchange for a loan in support of the beneficiaries because many of them do not have a drug which leads to the denial of credit, as they engage in acts need to open the cash for small shops, workshops and other projects.
And said fistula that facilities approved by the bank that have increased the demand for loan, as it was during the past period of granting loans to over 500 beneficiaries in order to create the material base enables banks to fulfill their services banking in addition to restore confidence between the government banks and citizens in need of facilities for credit loans, which are more common kinds.
The head of the bank's credit that these activities between loans and advances increased its revenue during the current year, amounting to some one trillion dinars, warning that this amount constitutes a quarter of the annual budget allocated to the bank.
In the meantime, confirmed that the fistula with the bank plan to activate the economic relations with other countries and build common bonds between them.
He said he had obtained the approval of the Ministry of Finance to open a branch of the bank in Cyprus, but the project was delayed due to financial crisis, revealing that the bank intends to approach the Cypriot side to resume the project.
He added that the bank has the potential to open other branches in a number of neighbors with economic relations good with the country in addition to States, home to a large number of Iraqis, such as Iran, Lebanon, Egypt, Tunisia and Malaysia, indicating that the move will provide banking services to the Iraqis to transfer funds and receive salaries retirees and other services, in addition to access to credit.
Alsabah
Has some one trillion dinars of credit activities
بغداد – وفاء عامر BAGHDAD - Wafaa Amer
Rasheed Bank announced the granting of more than 500 loan to the owners of small craft since last July, and decided to exempt owners of real estate to provide a guarantee in return for the loan amount, while the revenues of the bank credit activities of some one trillion dinars.
The bank manager Kazem Mohammed fistula in a special statement for the "morning" that the bank started since July the granting of small and medium loans to the owners of trades and professions of the industrial and agricultural as well as small traders who have work permits official, adding that the loan amount determined according to the project after his thoroughly by specialists in the bank.
The interest rate on the loan amount to 10 percent and the duration of payment of two years, revealing that the bank issued during the current year a decision to abolish this segment of the provision of a security estate in exchange for a loan in support of the beneficiaries because many of them do not have a drug which leads to the denial of credit, as they engage in acts need to open the cash for small shops, workshops and other projects.
And said fistula that facilities approved by the bank that have increased the demand for loan, as it was during the past period of granting loans to over 500 beneficiaries in order to create the material base enables banks to fulfill their services banking in addition to restore confidence between the government banks and citizens in need of facilities for credit loans, which are more common kinds.
The head of the bank's credit that these activities between loans and advances increased its revenue during the current year, amounting to some one trillion dinars, warning that this amount constitutes a quarter of the annual budget allocated to the bank.
In the meantime, confirmed that the fistula with the bank plan to activate the economic relations with other countries and build common bonds between them.
He said he had obtained the approval of the Ministry of Finance to open a branch of the bank in Cyprus, but the project was delayed due to financial crisis, revealing that the bank intends to approach the Cypriot side to resume the project.
He added that the bank has the potential to open other branches in a number of neighbors with economic relations good with the country in addition to States, home to a large number of Iraqis, such as Iran, Lebanon, Egypt, Tunisia and Malaysia, indicating that the move will provide banking services to the Iraqis to transfer funds and receive salaries retirees and other services, in addition to access to credit.
Alsabah
