The importance of commercial banks is the vital role playing to support the national economy and maintain its stability following banking policies and remarkable services. The Bank of Commerce and Development as a leading bank hoping to provide various services to customers for their all purposes and activities because of that the bank started to invest a part of its liquidity to benefit from theses investment, considering the risk policies of loans. The bank also reduced the interest of social advances to finical covering to (%5) and the commercial loans to finical covering to (%5).
Kinds of facilities offered by the banks:
Social advances,overdraft and commercail loans long-term and short-term; .. The bank provides this service to accelerate the economic growth and the interest of loans is calculated on the basis for total two years payble in six years installment for individuals from public and private sector without fincial obligations provided according to the following terms
- Existing salary in the bank for period exceeding three month
- Existing (2)gruarators from our customers in the same region . A salary statement for the demander and the gruarators undertaking to transfer their salaries ,in the case of busienessmen, a Tax Department statement is demanded
- Application explaining the purpose and the value of advance
- Filling the appliction of social advance
- These documents are presented to the branch and the agency which present them to The credit mangement in the Head office to to give the final approval.
when the bank offers certain amount in customer account when good collateral is provided in credit facilities as overdrawn account payable in a year it can be to renew in accordance with fincial postion of the customer.
Long and short term loans:
It is finicing investment projects in various fields as indusrty ,aviation,petroleum industry and tourism the loans are payable emaximum in two years for the short term loans.
- Filling the application form
- A Valid licence for commercial activity
- Presenting establishememt desicion
- Undertaking of installlment in the agreed time and using the loan in the agreed purpose
- Real estate mortgages for housing are not accepted
- Presenting feasibility studies
- Presenting fincial position
Due to the modern and the fast sevices which differentiate our bank and the international reputation it has gained among foreign correspondents ,it performed various documentary credit transactions via Swift for different economic sectors in the Jamahyraia with fincial covering (5%).
The required decuments:
Filling the prepared from our bank including all details and addtional term required by customers
Presenting pro forma invoice The bank also provides letters of guarantee with fincial covering (5%)encouraging import and different tenders these letters are commitment of tender execution if the tender is accepted, the customer fill the prepared application including the purpose ,time and amount,reciver of the letter.