Do you contribute to financial loans for staff to revive the domestic market?

Financial loans were always fall within the banking facilities provided by banks and banking banks as services provided to citizens who are in dire need certain amounts of money to pay off some of their daily and life, which


As well as one of the aspects of financial intermediation by banks within the business that are routine in most cases, the loans are often long-term payment to the imposition of interest rates that are different between the loan this or that.

Banks, Rafidain and Rashid fired loans to government officials, journalists, and retirees, which have captivated a wide unrivaled by the staff who every one of them submitted a request to receive the loan of five million dinars and interest rate of 7% for five years, the (economic) explored a number of views of interested in this topic who varied thoughts on the topic, but they agreed that the experience is good and positive about the results significantly.

High-Nasir Hussain Executive Director and the agency in the Association of Banks of the Iraqi says the process is the use of bank Mesopotamia and the good of deposits of financial holdings and take advantage of them through the operation and use in the process of lending to segments of broad social Kosherihp staff, retirees and journalists and provide financial benefit for a long time of five years, the operation was aimed as well as to move the domestic capital market and creating some sort of balance between supply and demand and they pour a good initiative, first and foremost in the interest of every Iraqi citizen a special slice of low-income employees, retirees and young journalists as a method of financial intermediation by banks.

He says private banks are using policy loans and grants, but they are often short-term loans for a year or two years, in order to recycle capital in proportion to the capital, which is much less compared to banks-governmental organizations, with the Ateljo to a policy of long term loans on the foregoing.

Abbas al-Bayati, Managing Director of Ashur International Bank says his bank is to grant loans to university professors, doctors, civil servants, particularly in the Kurdistan Region to the existence of two branches of the bank there, and specifically in the provinces of Sulaimaniyah, Arbil and Bank will, through its President in Baghdad loans similar to the staff and other social groups other in the near future, because the loans of financial benefit for all parties, both for depositors in the bank or citizens who wish to credit and loans and banks received the same, as it will contribute to increasing the volume of cash and credit to contribute to the recovery of the domestic capital market.

Bassam Mahmoud employee in the Ministry of Communications believes that the loan finance which was received from the bank contributed to his dream of buying a car, which has become a necessity of modern life that can no longer human indispensable, an initiative that came late, but it has solved many problems and obstacles daily life of a public servant, especially financial ones, because the cost of living and high prices makes it difficult to provide sums of money certain of his monthly salary sufficient to pay some of the requirements of living, which, whatever its sources, both from within the banks themselves or by investors and Gulf companies or foreign is important where it contributed to finding solutions to some of the staff members working in government departments.

Nadia Jabar Abdullah, an employee at the Ministry of Electricity said I looked a lot when I heard the granting of a bank of good and Mesopotamia to finance loans to employees amounting to five million, but was shocked by the amount of interest added to it (7%), which is very high compared to mortgage, for example, as you and others that the time was long also, but decided not received Mtnazlp my right where one of my colleagues, preferring at the same time to collect certain amounts from several people gathered on a regular basis including the value of 400 000 per person and ten people after the draw was made on the names and known as (advance), it is better and more secure with the non-payment of high interest rate, in addition to that is raised legitimate forms as is the case in advance of the bank, one of the types (riba) is forbidden in Islam.

Mohd Radzi's exhibition in the Kadhimiya say that there is shopping for new cars from which known (Almnafist) or (zero) of the origins, Japanese, Korean, European, and most buyers of those cars are of a segment of staff and when we asked them out of curiosity about the source of most of those amounts answer that part of advances and loans granted to them by banks, which undoubtedly contributed to the increased appetite for buying cars and thereby increase our sales, after a long period of stagnation in the car market, exhibitions and markets, gold and construction works, and others, as is witnessed by the market today, thanks to loans granted to employees have been active process of direct sales to all types of modern and ancient which encouraged many people who do not have cars on the acquisition of one and the desire of car owners the latest acquisition of other cars and so on.