economic professional Diaa Al-Mohsen pointed out, on Friday, a illness in financial institution hobby quotes for investment and personal loans because of their charges rising to greater than 50 percent.
Al-Mohsen informed dinaropinions.com, “The authorities keeps to furnish investment and personal loans, but the problem does now not lie in their quantity, however within the excessive interest fees. this is clear at Rafidain financial institution, whose hobby charge on loans reached fifty six percent.”
He added that “the banks have imposed not possible situations on the borrower that he cannot undergo, and this remember confirms the life of a clean illness inside the banking system, at the same time as there are numerous sectors from which the country can reap hobby instead of resorting to elevating the bank interest price.”
He explained that “personal and government banks are constrained by way of the regulations of the vital financial institution, which has placed restrictions on them regarding funding, and avoided them from going to paintings within the funding zone, and nothing remains besides the loans granted to traders and people.”
