Development and stability together

[yota691]

Central Bank: We allocated an additional 500 billion dinars for housing complexes projects

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Number of readings: 12-01-2018 12:14 PM

 

 

 

 

12-01-2018 12:14 PM 

 

Iraq's central bank announced on Friday that it allocated 500 billion dinars to residential complexes. 

The bank said in a statement that 'as part of the policy of economic stimulus and its contribution to alleviate the housing crisis and unemployment, the Central Bank of Iraq announces the completion of financing housing and real estate loans in the amount of one trillion four hundred billion dinars in 2016 and 2017 in the largest mortgage program in the history of Iraq' .

The statement added, 'the continuation of the implementation of this policy, was added to the amount of 500 billion dinars for the year 2018, most of which is allocated to housing complexes projects in light of the requests received by the Central Bank', noting that 'these loans are simple administrative loads do not burden the borrowers'.

[yota691]

Central Bank allocates 500 billion dinars for residential complexes projects

Date of release: 2018/1/12 12:34 • 154 times read

(Baghdad: Al-Furat News) The Central Bank of Iraq announced the allocation of 500 billion dinars, most of which are allocated to residential complexes, "stressing" the continuation of financing the loans of other projects. "

The Director of the Information Office of the Central Bank, Acer Jabbar said in a statement, received the agency {Euphrates News} a copy of it, "as part of the policy of economic stimulus and its contribution to alleviate the housing crisis and unemployment, the Central Bank of Iraq announces the completion of financing housing and real estate loans in the amount of one trillion four hundred Billion dinars in 2016 and 2017 in the largest real estate financing program in the history of Iraq. " 
"Continuing implementation of this policy has been added to the amount of 500 billion dinars for the year 2018, most of which is allocated to housing complexes projects in light of the requests received by the Central Bank," pointing out that "these loans have simple administrative load does not burden the borrowers."
"The Central Bank of Iraq continues to finance the loans of industrial and agricultural projects and small and micro enterprises, which the central bank allocated a total of four trillion and a half dinars and is the largest credit facilities in the history of Iraq."

 

 

[Big_J]

GE YOTA AND DV. 

[yota691]

Development and stability together

18/1/2018 12:00 am   Dr.. As Brahimi  recalled the previous three years that passed on the Iraqi economy jump to memory positions and economic decisions Pant today features its governance clearly after it contributed to the passage of those lean years, comes in the forefront of the policies of the Iraqi banking system in general and the central bank, especially in the context of strengthening the government's finance for The way to buy government bonds despite the unjustified criticisms of the Central Bank on it, who is the critics was able to stay one month without a   salary ?! Most of these criticisms have smothered the smell of politics and have not borne economic arguments enough to withstand the facts of reality. Some form the central bank to intervene in lending because its law forbids lending to the government to strengthen its independence. This is true, but the same law allows the central bank to lend indirectly through the secondary market. He should therefore not imagine the independence of the central bank as a "divorce" relationship with the government, but rather represent the ability of the central bank to make the decisions it deems appropriate without  political pressure  . The second measure, which is no less important than the previous one, is represented in the developmental role of the Central Bank through the initiative to lend industrial, agricultural and residential projects the amount of five trillion dinars, as well as the financing of small and medium enterprises, the amount of one trillion dinars, despite the relative success of the cold in the industrial and agricultural fields and for external reasons The success of the housing initiative alone is sufficient to say the importance of the initiative   and its success. In order to strengthen the previous measures, the Central Bank submitted a few days ago to provide new financing for housing projects amounted to about five hundred billion dinars, and this step certainly has the development justification, which I mentioned, especially with high rates of population growth, which increase the need for housing units, and on the other hand The initiative has positive indirect effects in achieving the price stability targeted by the Central Bank as the relative weight of house prices and rent is the largest among the factors constituting the index of prices in Iraq, and therefore this step demonstrates the awareness of a large by the Cash in stimulating development and price stability   together.