The central bank sends a letter to banks regarding loans and advances

3/22/2020 16:54


The Governor of the Central Bank of Iraq, Ali Al-Alaq, sent a letter to the banks regarding the conditions the country is going through and stalled most income-generating activities, which weakened the ability of dealers with bankswith loans or advances to fulfill their obligations during the period of restricting the movement called for by a pandemic effort Sk ..
The Governor of the Bank called in a statement that all Iraq News Agency received a copy of [where] a copy of it, "The bank departments to take important steps in postponing the claim for loan installments and advances alike, which the central bank took to postpone the claim for loan installments related to its initiatives in financing small and medium projects."
The Governor of the Central Bank indicated that "the social function of banks calls for such a modest step compared to what the society is looking for from the effective steps of the banking system."
It is noteworthy that the government crisis cell recommended today in its decisions to stop loan deductions on state employees and return them when the situation improves and banks continue to operate.
The Crisis Cell also decided to exclude employees of the Ministry of Finance, the accounting and budget departments, and government banks from the curfew