Thursday, December 27, 2018

Joint Guarantee Fund to guarantee the risks of the loans of unemployed businessmen

Joint Guarantee Fund to guarantee the risks of loans for unemployed persons (the system managed by the National Unemployment Insurance Fund).

the general frame:The mechanism for the creation and expansion of the activities of the production of goods and services by unemployed persons with projects financed by the National Fund for Unemployment Insurance is a complete system. The Fund receives, accompanies, finances and supports entrepreneurs.Within the framework of this body, the Joint Guarantee Fund to guarantee the risks of the loans of the unemployed depend on the projects simultaneously to guarantee the project owner and secure the banks.The certificate or contract of the owner of the project is in the mutual guarantee fund to guarantee the risks of the loans of the unemployed persons with the projects during the full period of the bank loan granted and one of the preconditions for granting the bank loan.

What is the Common Guarantee Fund for Loan Risk Guarantee?

The Joint Guarantee Fund for Loan Risk Assurance aims at guaranteeing the loans granted by banks and financial institutions to the unemployed of the projects involved in the Fund.
What is the role of the mutual sponsorship fund for the project owner and the bank?
The Fund guarantees to the borrower (bank or financial institution) by paying a large part of the debt in the event that the borrower (the entrepreneur) is unable to pay. This contributes to facilitating the benefit of the loan for the borrower, whose guarantees are often insufficient. The loan is repaid by the Fund by paying a large amount of debt to the creditor bank.
The mutual guarantee fund with banks and financial institutions guarantees the loans granted by these institutions to the benefit of the unemployed.
The fund, based on the acceleration of banks and financial institutions, covers the remaining debts due from assets and interest at the date of declaring the Nakba, within 70%.

Who can join the fund?

 Involvement in the Fund is compulsory for contractors who wish to create a private institution within the framework of the system managed by the National Unemployment Insurance Fund.
  The Guarantee of the Fund shall complement the guarantee provided by the Project Owner to the Bank or the Financial Institution.

How to engage:For the project owner:- Obtain a certificate of competence submitted by the interests of the National Unemployment Insurance Fund,- Obtain bank approval,- Payment of the defined rights of 35.0% of the loan amount in one lump sum in the local fund of the mutual sponsorship fund, covering the entire term of the loan.For the Bank:  Each bank or financial institution that finances the operations of the activities and grants loans to the unemployed under the management system of the National Fund for Unemployment Insurance shall pay an annual subscription of 1% of the remaining loan.Legal References:- Executive Decree No. 94-188 of 6 July 1994 establishing the National Unemployment Insurance Fund.- Executive Decree No. 04-03 of 3 January 2004, which includes the establishment of a mutual guarantee fund to guarantee the risks of investment loans to unemployed contractors in this body.

A very important note:

Finally, we can not fail to draw the attention of the reader to the fact that the bail funds in all three operating systems are operating in the same principle with the sole difference that the contribution of the project owner in ANSEJ and ANGEM is paid by bank check to the beneficiary, which is included in the financial structure of the project ) As opposed to the CNAC in which the contribution is paid in cash in its bank account.



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