Baghdad – IA
Today, Friday, Rafidain Bank confirmed the continuation of granting advances to members of the Popular Mobilization Forces, pointing also to the continuation of providing construction loans to employees, which start from 5 million and up to 150 million, while indicating the tendency to launch car purchase loans.
The person in charge of the duties of Assistant Director General of the Rafidain Bank, Ahmed Jabbar Bajai, told the (INA): “The credit plan for the year 2024 at the Rafidain Bank amounted to 10 trillion dinars, and a quarter of the amount has been spent so far on advances and loans.”
He added, “The advances of members of the Popular Mobilization Forces have begun and are continuing, and the delay that occurred in the last period is due to organizing the data in the offices of the Popular Mobilization Forces and submitting the local names to the bank to grant them loans.”
He continued, “The bank grants loans for the purchase of residential homes, renovation, and construction,” noting that “these loans are active and the interest rate in them reaches 6% and is decreasing.”
He pointed out that “the controls for granting these loans include that 50% of the borrower’s salary be sufficient to pay the monthly installment with interest,” explaining that “the loan is granted with the guarantee of (the MasterCard card) and the property only, and it starts from 5 million and reaches 150 million dinars.” .
He revealed, “The Board of Directors of Rafidain Bank agreed to launch car purchase loans,” pointing out that “launching these loans depends on finding solid companies to deal with in order to avoid delay.”