Iraq: Warnings of rising inflation and increasing real estate prices
June 8, 2011
Showed economists fear of a possible rise in inflation rates in Iraq a year after the operations grant staff loans and advances, emphasizing the importance of follow-up to market fluctuations during the period equivalent to the distribution of those sums among the beneficiaries, stating that the process of pumping a cluster of large cash in the street resulting in naturally high rates of inflation, pointing at the same time the possibility that markets are construction materials, real estate, as well as car prices rises significantly in the coming days after the distribution of funds among the beneficiaries, arguing that increased demand for residential buildings or the construction of additional units, or on their way to buy cars, the resulting to the rise in prices may occur in line with periods of credit.
The Rasheed Bank confirmed receipt of requests for direct lending and credit personnel in the ongoing work and $ 5 million dinars, and salary per cent, and the advance of the marriage by the state’s departments .. As he announced his intention to provide banking facilities and loans to the private sector up to one million dollars per loan, as well as its intention to open three branches of Islamic banking practice in both Baghdad and Najaf, and Basra during the month ..
The general director of the Rasheed Bank Kazem fistula during his speech for the (morning): that the bank began promoting requests lending and credit employees of the State in the ongoing service and permanent staffing, noting that the resumption of grants came to contribute to the reduction of the housing crisis faced by Iraqi citizens and will be the amount of loan (100) that the salary does not exceed (50) million dinars in each case .. He suggested the Director-General to the process of granting loans and advances come for specific purposes and put the bank is to buy housing units, or build a piece of residential land, or start a building, or buying a piece of residential land, or purchase of housing units within the projects complexes housing, indicating that the mechanism of grants will be for through the Department of the borrower, which pays his salary, and in the form of monthly meals spread over (24) months from the month of June, 2011, with taking into account the need of the employee candidate for the loan.
The fistula between the interest rate imposed on all loans to be granted by the Rasheed Bank (five million per cent salary and advances to marriage) of 6 percent of the size of the loan or advance.
To that stated fistula that Rasheed Bank instructed on the granting of advances marriage to the staff of the state and the (3) million Iraqi dinars interest rate of 6 percent and a repayment period of three years including a grace period (3) months and will guarantee insurance advance to the National Insurance Company in addition to the Performance Guarantee staff on the permanent staffing .. Meanwhile, the Director General of the Bank of good done to a package of measures which he said can support fact industrial in the private sector in Iraq in general, indicating that the Rasheed Bank works to provide facilities and bank loans, new private sector more than a million dollars for the factory one, which able to revive the reality of industrial sector in Iraq and enable it to enter the field of competition with imported materials from abroad. in turn, warned the Economists of the risks of high inflation rates during the periods will equal the Granting of staff such advances and loans, indicating that the injection of a cluster of large cash in the local market will contribute to lift inflation and will increase the prices of goods and materials, particularly within the construction work .. The researcher added economic Hilfi Speaking (morning) that the process of support staff is important is the responsibility of the State at the present time, but Hilfi noted that the granting of advances and loans of this size and this period sponsor of price increases remarkably can absorb significantly the monetary value of those loans .. and noted Hilfi the decision to Rafidain and rational to grant loans of this size for the purposes of construction or purchase of housing units or land plots that can increase the prices in excess of the difficulties of achieving that goal, calling for the division of the grant process does not affect the market especially local property prices and Lima achieve the highest degree of interest.
June 8, 2011
Showed economists fear of a possible rise in inflation rates in Iraq a year after the operations grant staff loans and advances, emphasizing the importance of follow-up to market fluctuations during the period equivalent to the distribution of those sums among the beneficiaries, stating that the process of pumping a cluster of large cash in the street resulting in naturally high rates of inflation, pointing at the same time the possibility that markets are construction materials, real estate, as well as car prices rises significantly in the coming days after the distribution of funds among the beneficiaries, arguing that increased demand for residential buildings or the construction of additional units, or on their way to buy cars, the resulting to the rise in prices may occur in line with periods of credit.
The Rasheed Bank confirmed receipt of requests for direct lending and credit personnel in the ongoing work and $ 5 million dinars, and salary per cent, and the advance of the marriage by the state’s departments .. As he announced his intention to provide banking facilities and loans to the private sector up to one million dollars per loan, as well as its intention to open three branches of Islamic banking practice in both Baghdad and Najaf, and Basra during the month ..
The general director of the Rasheed Bank Kazem fistula during his speech for the (morning): that the bank began promoting requests lending and credit employees of the State in the ongoing service and permanent staffing, noting that the resumption of grants came to contribute to the reduction of the housing crisis faced by Iraqi citizens and will be the amount of loan (100) that the salary does not exceed (50) million dinars in each case .. He suggested the Director-General to the process of granting loans and advances come for specific purposes and put the bank is to buy housing units, or build a piece of residential land, or start a building, or buying a piece of residential land, or purchase of housing units within the projects complexes housing, indicating that the mechanism of grants will be for through the Department of the borrower, which pays his salary, and in the form of monthly meals spread over (24) months from the month of June, 2011, with taking into account the need of the employee candidate for the loan.
The fistula between the interest rate imposed on all loans to be granted by the Rasheed Bank (five million per cent salary and advances to marriage) of 6 percent of the size of the loan or advance.
To that stated fistula that Rasheed Bank instructed on the granting of advances marriage to the staff of the state and the (3) million Iraqi dinars interest rate of 6 percent and a repayment period of three years including a grace period (3) months and will guarantee insurance advance to the National Insurance Company in addition to the Performance Guarantee staff on the permanent staffing .. Meanwhile, the Director General of the Bank of good done to a package of measures which he said can support fact industrial in the private sector in Iraq in general, indicating that the Rasheed Bank works to provide facilities and bank loans, new private sector more than a million dollars for the factory one, which able to revive the reality of industrial sector in Iraq and enable it to enter the field of competition with imported materials from abroad. in turn, warned the Economists of the risks of high inflation rates during the periods will equal the Granting of staff such advances and loans, indicating that the injection of a cluster of large cash in the local market will contribute to lift inflation and will increase the prices of goods and materials, particularly within the construction work .. The researcher added economic Hilfi Speaking (morning) that the process of support staff is important is the responsibility of the State at the present time, but Hilfi noted that the granting of advances and loans of this size and this period sponsor of price increases remarkably can absorb significantly the monetary value of those loans .. and noted Hilfi the decision to Rafidain and rational to grant loans of this size for the purposes of construction or purchase of housing units or land plots that can increase the prices in excess of the difficulties of achieving that goal, calling for the division of the grant process does not affect the market especially local property prices and Lima achieve the highest degree of interest.