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Showing results for tags '(1.9) trillion dinars increase'.
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The Central Bank of Iraq raises the ceiling for housing financing and adjusts the payment period Central Bank of Iraq - Basra Branch August 26, 2020 3:59 PM Mubasher: The Central Bank of Iraq decided, today, Wednesday, to amend the housing finance ceiling within the One Trillion Initiative, and the banks participating in this initiative. The Central Bank said, in a statement, that in response to the increasing demand for housing financing, the bank decided to amend the housing finance ceiling within the one trillion initiative, and the banks participating in this initiative, according to the Iraqi News Agency (INA). The central added that the ceiling for housing financing will be 100 million dinars instead of 75 million dinars, and the financing period has been amended to 15 years instead of 10 years. The Central Bank indicated that the decision was made in order to reduce the burden of interest installments on the citizen, so it decided that the method of calculating the interest rate of the bank participating in this financing should be in accordance with the method of (diminishing installment), with the maintenance of each of the central bank’s administrative commission of 7 per thousand, as well as The annual administrative commission of the guarantor, amounting to 6 thousand.
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The Central Bank of Iraq decides to increase the allocation to the housing sector July 08, 2021