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The Central Bank launches a 15 million dinars loan initiative for national employees with their salaries

The Iraqi Private Banks Association announced, on Thursday, February 11, 2021, that the Central Bank launched a loan of 15 million dinars for national employees whose salaries are exclusively in government and private banks as part of the 1 trillion dinars initiative.

The Executive Director of the Association of Private Banks, Ali Tariq, said in a statement, “The Central Bank of Iraq has decided to support workers in state, public sector and security institutions by granting them easy personal loans,” adding that “the loan does not exceed 15 million dinars without interest, but at a commission of 4%, with a repayment period not exceeding 5 years, without a guarantor. ”

Tariq noted that “the loan includes only national employees whose salaries are in banks, calling on state institutions to localize the salaries of employees so that they can benefit from them.”

He emphasized that “this loan is an unspecified personal, which the employee can benefit from in covering his personal needs in daily life, such as construction, marriage, buying a car and others.”