Based on the directives of the Central Bank of Iraq according to its letter No. 6/5/1683 on 3/7/2019, which includes raising the ceiling for lending to finance projects up to an amount of (1,000,000,000) dinars (one billion dinars), according to the following:
Targeted projects:
- Industrial projects (all newly established industrial projects or industrial projects that need rehabilitation or development).
- Projects related to the agricultural sector, livestock production and agricultural industries.
- Service and tourism projects, including (establishing schools, building resorts, game cities, sports stadiums, etc.)
- Medical and health projects, including (establishing medical centers, radiology and sonar, beauty centers, stores, pharmacies, etc.)
- Advertising and marketing projects (establishing and developing printing presses, purchasing advertising printing machines and what is related to this sector)
- Any other projects other than housing projects
Project requirements (individuals)
1- The project owner’s documents
2- The economic feasibility study of the project issued by an officially licensed office, according to the sector
3- The official approvals for the establishment of the project issued by the competent sectoral authorities.
4- Providing real estate guarantees covering the value of the financing, provided that they are not agricultural lands, common shares, or real estate indicated by the sign of foreclosure or seizure for the benefit of other parties and banks
5- Submitting a written request for financing by the funding applicant
6- The bank conducts project inspection procedures by the Projects Inspection Committee
Project requirements (companies)
1- The company incorporation papers have been recently certified by the Companies Registration Department.
2- Final accounts for the ended fiscal year preceding the year of project submission
3- Tax Clearance.
4- The economic feasibility study of the project issued by an officially licensed office, according to the sector
5- The official approvals for the establishment of the project issued by the competent sectoral authority.
6- Providing real estate guarantees covering the value of the financing, provided that it is not agricultural land, common shares, or real estate indicated by the sign of foreclosure or seizure to other parties and banks
7 – Submission of a request for financing by the managing director of the company or his assistant.
8- The bank conducts project inspection procedures by the Projects Inspection Committee
For more details, you can visit one of our branches and talk to the concerned employee or call the number 6070.