Loans

Now, at the NBI, we grant soft loans to support SMEs.

Loan Amount

• IQD 5 million – 50 million
• IQD 51 million – 1 billion
• IQD 1 billion – 5 billion (subject to approval from the Central Bank of Iraq)

The Aim

1 - Development of projects in various sectors (commercial, service, industrial, agricultural, medical and touristic) through the following:

• Opening of facilities and factories
• Development of hotels and restaurants
• Purchase of machines and equipment of all kinds
• Opening of new production lines
• Purchase of raw materials of various kinds
• Development and modernization of existing clinics
• Purchase of devices of all kinds
• Purchase of medical and laboratory equipment
• Purchase of goods

2 – Opening medical clinics, pharmacies, laboratories, pharmaceutical factories and more

Loan Tenor

• Up to 7 years, in line with the project’s monthly revenue and cash flows

Grace Period

• 1 month – 1 year (depending on the sector)

Target Sector

• All sectors

Commissions

• 0.007 Central Bank commission
• 1% Central Bank commission (over IQD 1 billion)
• 0.006 – 0.008 commission of insurance companies for loans up to IQD 100 million

Interest Rate

• 4% - 5.1% annually

Guarantees

• Personal guarantees pursuant to good dealing letters and according to the text approved by the bank (up to IQD 50 million)
• Real estate guarantees (for amounts more than IQD 50 million)

Services and Privileges

• Quick completion of transactions with a period of no less than 15 working days from completion of all papers and conditions
• Current account services
• Bank transfers
• Credit and debit cards
• NBI Online service
• SMS service
• Deposit accounts with preferential interest
• Savings accounts

*Subject to NBI’s conditions and approval in accordance with the Central Bank of Iraq

Those wishing to take advantage of the above offer may consult their nearest NBI branch throughout the governorates (Baghdad, Mansour, Kadhimiya, Jamila, Erbil, Sulaymaniyah, Najaf, Karbala, Basra, Umm Qasr, Ar Rumaylah) or call one of the department’s numbers (facilities for SMEs and affiliates).

Public Administration: 07809270676,07833035374 ,07809270653 , 07818775369

Basra: 07833035373

Najaf: 07833035372

Karbala: 07833035371

Mansour: 07506874191

Kadhimiya: 07706287005

Program Goal:

In response to the Central Bank of Iraq’s small and medium-sized economic projects and its aim to support the residential sector, the Central Bank has allocated an amount of money to finance housing units through banks operating in Iraq. The Central Bank’s mechanism for granting these loans by providing the necessary liquidity is also a good opportunity for the bank to invest in this project and attempt to increase the percentage of cross-sales to customers by marketing the banks’ other products. 

Target Group:

Public-sector employees whose salaries have been transferred and private-sector employees from reliable companies (those with fixed incomes).

Financing Ceiling per Loan:

• Minimum: IQD 5 million without interest
• Maximum: IQD 100 million without interest

Repayment Period:

Up to 15 years

Interest Rate:

First slide: 2.2% interest rate collected by the bank for borrowers with a salary transfer to the bank or borrowers vouched for by a guarantor with salary transfer (lifetime fixed interest)

Commissions:

•  0.05% one-time interest rate collected by the Central Bank at the beginning of loan tenor
• 0.6% commission of insurance companies if they guarantee the loan, to be deducted at the beginning of loan tenor
• Lump sum administrative commission of IQD 50,000
• Any other expenses, expenses incurred by the bank (validity issuance, etc.)

Guarantees:

• Salary transfer guarantee
• Public-sector employee’s guarantee 
• Contract and bill of exchange for the amount, with interest

Minimum Salary/Income (Borrower – Guarantor):

Unspecified