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Loans
Do you have a project which is the dream of your life?
Have you an agricultural project ?
Industrial?
All these questions and more than you think, we, the North Bank for Finance and Investment , can help to achieve them by the various loan programs that meet your wishes.
Granting credit procedures are defined by bank programs through brochures, ads and by shopping by young staff.
Our bank has contributed to support various industrial , commercial and humanitarian sectors having large credit portfolio which Is followed up by a number of credit officers and educators according to the latest methods of training The Bank has a distinguished activity in funding the large strategic projects, such as building refineries of high manufacturing capacity,
as well as to finance the construction of large residential complexes, the infrastructure projects with the great funding in various Iraqi provinces
Granting credits of both its types (cash and contractual ) is being done according to the central bank rules which are represented by indicative list that will protect depositors and shareholders’ funds and the rights of customers and dealers in the same time .
The Bank has a system of (Orion)with international standards regulating the work of those programs , the payment of premiums and the interests collection dividing by the number of months and by type of payment if monthly or quarterly or the end of the period depending on the type of payment if monthly , quarterly or the end of the period.
As for projects of a humanitarian nature, the bank has adopted several programs to support different classes of Iraqi society with low-interest ranging, those programs include:
Cash credit-granting programs
-The Development Program Of Supporting Agricultural Borrowers in the provinces of Basra and Baghdad targeting a segment of society who have a business related to farming and agricultural products , its interest 10%,borrowers are required to provide a proof of his work in this field in addition to providing real estate warrants.
The value of the loan does not exceed (25) million dinars, its period is two-year with monthly installments, after a customer opens a current account in the section and provides the four official Documents.
-Disadvantaged program is intended to support marginalized category of Iraqi society, who are the minorities , displaced persons, women female supporters (widows and divorcees),the amount of one loan does not exceed 18 million dinars, its interest is 8% decreasing, its period is 30-month or less, its guarantees are one or two government employees ( depends on the salary of the guarantor employee), it should be in monthly installments, after having to open a current account and to provide the four official Documents with the Documents of guarantor and an endorsement letter from his office.
-Incubator Program: Our first experience of this program was in the northern provinces (Sulaymaniyah, Erbil, Dohuk, Mosul, Kirkuk) and in the future will be in the southern provinces, its purpose is not only for lending, but creating youth staffs who will have full knowledge of the process of granting loans and its marketing, the program targets unemployed young people, breadwinner and women who work in their homes to improve their financial situation, loan term is up to three years, the Interest rate is 10%,its amount does not exceed 100 million dinars. The warranties are real estate or by government employees in addition to the warranty loans company In the case of personal sponsorship, after the customer opens a current account in the branch and submits the four official Documents and for the guarantor as well if it was by the guarantee of the guarantor with a letter of endorsement from his department
-Program of small and medium projects which their amounts ranges from 5.000% - $ 250,000 targeting small projects that number of employees who works with it are less than 9 workers, and medium projects that have employees working from 9 to 50 ones. Its interest is 10%, their period is two-year with real estate guaranteesor warranty of a government employees, the reimbursement will be made either monthly or quarterly after opening a current account with the intended branch.
-Program of Lending parliamentarians / It targets all Council members and its chairman and Vice-President. Its interest is 10% for a period of two years, the reimbursement will be monthly without warranty
