Baghdad – IA
Today, Wednesday, the Central Bank of Iraq announced a reduction in the interest charged on loans granted within the One Trillion Dinar Initiative.
The bank’s media office said in a statement received by the (INA): “The Central Bank of Iraq is keen to take into account the current exceptional circumstances related to the financial and economic aspects and the repercussions of the Corona pandemic.”
He added, “It was decided to reduce all interest imposed on loans granted within the (1) trillion dinar initiative of the Central Bank of Iraq,” noting that “the Central Bank of Iraq interest for large projects will be reduced to (1%) instead of (2%), and The interest for banks on housing loans will be (2%) instead of (4%).”
The office added, “The Central Bank’s commission (for housing loans) will be adjusted to (5 per thousand) instead of (7 per thousand),” noting that “all interest to banks and guarantor companies will be reduced.”