International development is moving towards three investment categories in Iraq.
The International Development Bank announced the launch of three new financial and investment products targeting investors, entrepreneurs, startups, and small and medium enterprises, in a move that the bank says aims to enhance liquidity, stimulate economic growth, and empower the private sector through flexible solutions with competitive returns.
The bank stated that the new products came in response to the market's need for more flexible financing tools that help with expansion and support financial stability within a safe banking environment.
The bank stated in a press release that the three products include a profit account, which offers customers a 6.5% profit rate paid upfront, providing immediate liquidity for reinvestment or managing financial obligations from day one; project finance loans with a reduced interest rate of 3.5% to support business growth and accelerate expansion, enabling startups and SMEs to enhance productivity and create jobs; and an investment deposit account with annual returns of up to 10% distributed monthly, providing investors with a regular income, as confirmed by the bank.
In a move that it said comes within its social responsibility and in consideration of the humanitarian dimension, the International Development Bank announced the postponement of all installments due during the month of Ramadan for government sector employees, with the aim of easing their financial burdens and enabling them to meet their needs. link