BAGHDAD – News Network Iraq – blamed the Iraqi Ministry of Finance Saturday reasons to stop granting housing loans to employees to the scarcity of cash, noting that the main reasons for the scarcity of liquidity delay deducting departments of accounting in the country’s ministries of loan installments and receive from those with high grades while confirming that the premiums that reached the bank Rivers of those loans did not reach 5%.
The director of the Rafidain Bank, the Ministry of Finance Zia Alckheon that stopped granting housing loans to employees was the result of the scarcity of cash, indicating that the reluctance of departments Accounting ministries in the deduction of loan installments due on the employee and the receipt of such loans by people with high grades who are not in need of it cause of the scarcity cash in the bank.
He Alckheon that premiums that reached the Rafidain Bank in loans granted to employees did not report 5%, pointing out that these loans, amounting to 50 million dinars at a minimum, and 100 million dinars, up to a maximum, in some cases for more than ten installments.
The Alckheon that Rafidain Bank exceeded his allotted from housing loans three times had no initiatives for non-dispensing, but borrowers have not exceeded the amount allocated for loans, pointing out that the bank lent up to nine trillion dinars, while what has been allocated for this is three trillion dinars.
And stopped the Ministry of Finance last February lending staff for reasons described Baladaria response to the request of the Rafidain and Rasheed because of the growing demand for such advances by employees who exceeded the plans prepared for this purpose.
The Ministry of Finance has decided since 2008 and through the Rafidain and Rasheed, in coordination with the ministries and government departments granting advances and loans to employees different but not less service employee for five years in accordance with the conditions and regulations specified for that, that does not exceed the loan of 50 million dinars, and an interest rate of 8 percent to be paid in ten years.
The loan is an advance in the case must pay the full amount before retiring, while regarded as a loan If you can pay it until after the end of his career and his retirement.