Rafidain Bank Launches New Financial Facilitations to Support Defaulting Borrowers

rafidainscope - Rafidain Bank has approved a set of new measures aimed at simplifying loan repayment mechanisms for defaulters, in a move to alleviate the financial burdens on borrowers. The administration clarified that the facilitations require the borrower to pay at least 20% of the total open loan amount, while the remaining balance will be paid in installments under the same original terms regarding the loan duration and interest rate. This step is part of the bank's strategy to reduce financial default cases and collect dues, which contributes to enhancing cash liquidity and reinvesting funds in financing new loans and projects.