Launching the online application for housing fund loans

[yota691]

Real Estate announces the opening of his building in Mosul and offers housing loans to citizens   Thursday June 8, 2017 14:08         Alsumaria News / Baghdad announced the Land Bank of the Ministry of Finance, Thursday, for the opening of his building in Mosul , while started providing housing loans to citizens.  The bank manager Khudair Abbas Rewan in an interview with Alsumaria's News, said that " the bank inaugurated the building to him in Acer Mosul to provide housing loans to citizens , " noting that " the terms of applying for a loan is the same as previously announced conditions have among them to have a citizen land area of not less than about 100 meters. "       He Rewan that " the bank will be the exception of citizens in Mosul of many things to get a loan Kaltgadi on vacation construction and other things , " referring to the "pursuit of the bank to cancel the interest on these loans, which are now in for a decision of the Federal Court."  And established the Land Bank under Law No. 18 of 1948, with a nominal capital of million dinars, and was declared the establishment of the bank in that period of time the goal is to rid the rescue of urban residents (especially the city of Baghdad) who had to borrow to meet mortgage residential homes in order to ensure the payment of debt as they can of exchange on their daily life requirements or invest these funds commercial operations numbered, and the expansion of its activity later to investment lending.

[yota691]

Real Estate announces the opening of his building in Mosul and offers housing loans to citizens

Number of readers: 264

 

 

Real Estate announces the opening of his building in Mosul and offers housing loans to citizens

 

09-06-2017 04:45 PM

 

Euphrates -

 

Real Estate Bank , the Ministry of Finance announced the opening of his building in Mosul, while started providing housing loans to citizens. 
The bank manager Khudair Abbas Rewan in a press statement that the bank inaugurated the building to him in Acer Mosul to provide housing loans to citizens, noting that the terms of applying for a loan is the same as previously announced conditions have among them to have a citizen land area of not less than 100 meters. Adding that the bank will in Mosul , with the exception of citizens of many things to get a loan on vacation Kaltgadi construction and other things, referring to the pursuit of the bank to cancel the interest on these loans, which are now in the Federal Court to decide.

[yota691]

/ Scales News / reveal details of the Maysan residential project

 Since 07/02/2017 18:27 am (Baghdad time)

Baghdad balances News

The Cabinet approved the establishment of the National Investment Commission to issue and the granting of holiday investment for the purpose of implementing the integrated residential project in the province of Maysan by 3812 housing units horizontal.

Saad al-Sabri, spokesman for the Information Office of the Prime Minister Haider al-Abadi said in a statement received / scales News / Nnschh him that "As part of the government's orientation to encourage investment in various economic fields, including the housing sector to contribute to the establishment of residential units in the framework of investment complexes designed for this purpose and the involvement of investors and companies in the revitalization of residential investment has been issued cabinet approval by the national investment Commission, by issuing and granting an investment license for the purpose of implementing the integrated residential project in the province of Maysan by 3812 horizontal housing units with a variety of commercial and service services. "

He explained that the duration of the project "of three years from the date of direct execution on a piece of land belonging to the Ministry of Construction and Housing and an area of 652 acres that is offered in conjunction with the project financing plan to ensure the point of funding from an accredited financial institution."

He also pointed to the investor to "open registration for residential units when they reach the percentage of completion of 25%, which contributes to strengthening the financing of the project and completed according to schedule, and the agreement with one of the accredited banks to lend to the beneficiaries of citizens of the project according to the instructions of the investment bank loans after the arrival of percentage of completion in the project to 60%. "

The investor will also, according to the statement, "the donation to build 10,000 square meters at his own expense as services essential for the project, such as schools, health centers and civil defense center."

The statement pointed out that the registered citizen in this project will be to "make a payment equivalent to 15% of the housing unit value at the IPO that will pay another 15% upon receipt, the Premium and the remaining amount will be making payments by registered over twelve years for the investor funded and over fifteen years for the lender. "

The spaces will be residential units in this diverse investment pool is divided into three sizes are (large - an area of 212 square meters) and (medium - an area of 160 square meters) and (small - an area of 127 meters Mrba.anthy 29 / m h n

[Synopsis]

15% of the housing value could be another way to pull Chunkae' Monae' off the streets and out of the hands of the hoarders!

 

Go Moola Nova!

[yota691]

Governor of Baghdad: the capital needs to be one million housing units to solve the housing crisis

economy

 Since 03.07.2017 at 10:18 (Baghdad time)

Baghdad balances News

The Governor of Baghdad Atwan Atwani, about the need for the capital, Baghdad, to about one million housing units, noting that the only solution to solve the crisis is investment and the establishment of residential units along the lines of Basmajh complex.

Said Atwani in a statement received / scales News /, the "Baghdad suffers from the presence of more than 350 random because of the lack of housing as well as a deliberate plan stopped several housing projects in the province because of the financial crisis."

He added, "Baghdad province needs more than one million housing units to cover the housing crisis suffocating in Baghdad, especially for those with limited income."

He pointed out that "the province has proposed to the Council of Ministers set up an integrated infrastructure of cities and hand distributed to citizens," he said, adding that it represents "the only solution to solve the housing crisis in light of austerity measures after the approval of the federal government to enter the companies" ended 29

[yota691]

Zamili's "economy News": We are working on the completion of 500 thousand housing units in Baghdad

Head of Investment Baghdad, Shaker Zamili "Economy News"          Economy News Baghdad:  Announced the Baghdad Investment Authority, Shaker al-Zamili, Tuesday, it is working on the completion of 500 thousand housing units to meet the shortfall in Baghdad, adding that the number of executed and implemented in the capital Baghdad residential projects of 70 projects.  He said Zamili, in an interview for "Economy News", "the number of executed and implemented in the capital Baghdad residential projects of 70 projects which are still in the design phase," adding that "the delay in the implementation of some projects due to the general situation in the country, including the abuse on land ".  He noted that "the deficit in the housing units in the capital of Baghdad 850 000 units and is currently working on the completion of 500 thousand housing units," explaining "determined to ease the housing crisis in Baghdad through investment projects." He added Zamili, that "residential investment projects will be handed over 26 000 housing units in the capital during the current and next two years."     Views 690   Date Added 07/18/2017

[yota691]

UN promises preconditions for indiscriminate housing in Iraq

Editorial Date: 2017/7/22 14:59 • 19 times read

[Ayna-Baghdad] The 
United Nations ushered in solutions to indiscriminate housing in Iraq.

"The Council of Ministers of Iraq has passed a new law legislation to address the challenges of informal housing in Iraq and contributes to finding a solution to the long-term suffering of displaced people living in informal settlements for long periods of time," a UNAMI statement said. . 
"The draft law was prepared and submitted by the United Nations Human Settlements Program (HABITAT) through material support from the Bureau of Population, Refugees and Immigrants in the US State Department, after lengthy and intensive legal and civil research and extensive discussions within the institutions concerned." 
"The new legislation will result in the implementation of a number of solutions in a specific context, including: 
Rehabilitation of housing, minimal resettlement, land re-adjustment, the application of integrated urban planning and the transformation of these areas into official settlements, as well as reducing the incidence of further abuses and slowness. " The Government estimates that Iraq currently needs some two million housing units to cope with accumulated crises and growth population. 
the House of Representatives discussed in the September 2016 report on addressing the housing crisis submitted by the parliamentary committee temporary, noting that the crisis escalated in Iraq for decades and requires the addition of 150 thousand housing units annually. the 
report said that the housing gap reached two million housing units as well as a Z traces Daesh and the spread of slums in some cities and the government can not provide housing units of 250 housing units annually in light of the population growth. " 
He considered "

[yota691]

No {crisis housing]

01/8/2017 12:00 am    Hussein Thagb    all over the world find the search for solutions represents the most interested parties and experts to overcome the problem suffered by the lowest financial allocations.  The problem is often carefully studied and local capacities are available and a database is developed to illustrate the magnitude of the problem and the capabilities and time needed to overcome it.  Here, the local effort and energy are calculated on the contribution and the need for external investment effort and then draw up plans and strategies to overcome the suffering of the country, where the process requires concerted efforts to achieve economic development that brings welfare to the members of society.  In Iraq, the problem of chronic housing, which has become a major population pressure offset by a huge rise in property prices in most areas of Baghdad and other cities.  We all know what the social and economic diseases that are the result of population pressure, which make it imperative to find effective solutions to this problem and the availability of these solutions locally.  When we look for Iraqi capabilities that can provide solutions to the housing problem, it is not impossible. When you find the Brikast plant in Najaf province, it is one of the important industrial monuments in the region, we are sure that there is hope to reduce the effects of this crisis on the national economy.  When you find that the private sector was able to complete the village of Ghadir and other horizontal complexes and displays its capacity to build in all regions of Iraq, we know that solutions are available, but what is blocking the way we desperately need.  When researching with private experts from the private sector, we found that Iraqi capabilities are available to build horizontal and vertical residential complexes as well as low cost houses.  The capabilities are available and ready to implement the largest projects during the periods of achievement adopted by the largest international companies, but it requires the provision of land and shorten the complex routine and limitations that accompany the implementation so that we can actually begin to resolve the  housing crisis  .  The ball is today in the court of the state, which has to provide the land and the environment only and remains the other role is adopted by the private sector specialist and remains the supervisory role of a specific committee monitors its work from the highest organs in the country, and in this matter a great benefit to the national economy when the capital cycle inside Iraq and away from any Financial allocation for the implementation of such projects we need them, so we have started the first step on the road to sustainable and real development  .  The housing package can be divided between the private sector with capacity and the state with organizational responsibilities. The ball is today in the court of the state, which has to provide the land and the environment only and remains the other role is adopted by the private sector specialist and remains the supervisory role of a specific committee monitors its work from the highest organs in the country, and in this matter a great benefit to the national economy when the capital cycle inside Iraq and away from any Financial allocation for the implementation of such projects we need them, so we have started the first step on the road to sustainable and real development . The housing package can be divided between the private sector with capacity and the state with organizational responsibilities. The ball is today in the court of the state, which has to provide the land and the environment only and remains the other role is adopted by the private sector specialist and remains the supervisory role of a specific committee monitors its work from the highest organs in the country, and in this matter a great benefit to the national economy when the capital cycle inside Iraq and away from any Financial allocation for the implementation of such projects we need them, so we have started the first step on the road to sustainable and real development  . The housing package can be divided between the private sector with capacity and the state with organizational responsibilities.

[yota691]

Housing Fund postpones receipt of loan transactions for one month

Economy News _ Baghdad Housing Fund of the Ministry of Construction Housing announced on Wednesday to postpone the receipt of the new loan applications for one month, and returned the procedure Rotini to arrange the remaining funds according to priorities.  "The Housing Fund has decided to postpone the promotion of new housing loan transactions for about a month to complete the payment of amounts to the beneficiaries of previous payments," the fund's manager said in a statement received by Al-Iktissad News.  He added that "the postponement decision is routine and organizational for the purpose of developing a strategy for the few remaining amounts will be determined the number of transactions received for the end of the year in the light of those amounts." He pointed out that "the Housing Fund has completed the delivery of all amounts for the housing initiative supported by the Central Bank and what is disbursed now are the original amounts of the Fund for all eligible."

Views 278   Date Added 08/02/2017

[yota691]

Housing Fund suspends receipt of new transactions for depletion of allocations

 

Thursday 3 August

 

 

Alsumaria News / Baghdad announced Housing Fund, on Thursday, for stopping the receipt of new transactions to run out the customizations, adding that he is committed to pay all payments to borrowers transactions unfinished.  The fund said in a statement received by Alsumaria News that "stopped the acceptance and receipt of new transactions for loans and to avoid the financial allocations within the initiative of the Central Bank of Iraq."  "He will be committed to paying all payments to borrowers who have completed their transactions," he said.   It is noteworthy that Iraq is suffering from a severe housing crisis due to the growing number of Iraq 's population , compared with the number of residential complexes and units, in addition to the inability of citizens with limited income from the construction of its own housing units because of the high cost of land and construction materials.

[Wiljor]

 

Iraq, August 5, 2017 

Nineveh province needs one million housing units to make up for civilian residences destroyed during the war against the Islamic State, an official was quoted saying Friday.

Abdul-Karim Mohamed, head of the province’s investment service, said authorities plan to build one million housing units to shelter families whose homes were destroyed in more than eight months of military operations which ended last month with the recapture of the Islamic State’s largest base in Iraq: Mosul.

He said the province will support local investors eager to contribute to the scheme, adding that the Real State Bank of Iraq had agreed to provide grants and loans worth IQD75 million to citizens to help rebuild their homes.

The war against IS in Mosul has displaced more than 900.000 people since the launch of security operations in October and until the declaration of victory over the militant group early July.

Besides the human loss, the war in Mosul and at encounters at other IS havens in Iraq, have caused serious damages to infrastructure and basic services.

Also in July Lise Grande, the United Nations’ human rights coordinator in Iraq, estimated the amount needed for reconstructing Mosul by more than one billion dollars.

iraqinews

http://iraqdailyjournal.com/story-z15705382

[bkeiller]

Housing/building boom to follow. $$$

[yota691]

Headed by Abadi .. Cabinet approves the formation of the National Initiative for Housing

Political

 Since 2017-08-13 at 20:27 (Baghdad time)

Baghdad - Mawazine News

A spokesman for Prime Minister Saad al-Hadithi's office announced on Sunday the approval of the cabinet to form the national housing initiative committee headed by its chairman Haider al-Abadi, while drawing up recommendations of the National Product Promotion Committee formed by Council Resolution 405 of 2015.

"In the framework of government efforts to support the housing sector, the Cabinet approved the formation of the National Housing Initiative Committee headed by Prime Minister Haider al-Abadi and the membership of the Minister of Construction and Housing and the Secretary-General of the Council," Al-Hadithi said in a statement received by Mawazine News. The Secretary of Baghdad, the Chairman of the National Investment Commission, the Undersecretary of the Ministry of Finance, and the head of the secretariat of the Higher Coordinating Committee of the provinces.

He added that "this committee supports the Department of Housing in the implementation of its tasks as follows:

1- Implement public housing projects included in the annual housing plans by public companies of the ministry and private and mixed companies.

2. Ensure adequate housing for citizens through the development and implementation of housing policy.

3. The Housing Department shall allocate land belonging to the State required for housing projects and shall occupy any land belonging to the State free of charge in coordination with the owner, as well as the acquisition of the real estate needed to achieve its objectives. 4. The National Housing Initiative Committee shall consider cases in which allocation decisions have been issued and the procedures have not been completed. "

He continued, "The Cabinet also approved the recommendations of the National Housing Council, which are the following:

1- The distribution of unplanned residential plots covered by the instructions of the Ministry of Construction and Housing and the Municipality of Baghdad shall be 50% of the real value, provided that the value of the infrastructure for the plot of residential land serviced by infrastructure shall be added and evaluated by the estimation committee formed under the Sale and Rent of State Property Law With the legislative order that required the Ministry of Anfa and the Municipality of Baghdad to distribute plots of residential land within the boundaries of cities and towns on the citizens.

2- The sale of residential plots divided by the infrastructure (water, sewage networks, electricity, roads) belonging to the municipalities and the Municipality of Baghdad with a real allowance, including the value of the infrastructure within the project determined by the assessment committee formed in accordance with the provisions of the Sale and Rent of State Property Law.

3- The trade-off between the persons covered shall be in accordance with the selection criteria prepared by the Ministry of Construction and Housing and the Municipality of Baghdad in accordance with the regulations prepared by the said Ministry and approved by the Prime Minister.

4 - Acceptance of the guarantee of the plot of land 25 / permanent for the purposes of credit from the Land Bank and Housing Fund.

5 - Encouraging ministries and entities not affiliated with the Ministry to allocate plots of land for the purpose of building residential complexes through investment.

6. Preserving the decisions of the Council of Ministers numbered 53 and 168 of 2014 concerning the granting of a piece of residential land to members of the army, the internal security forces and the combatant civilians who appear to be very courageous or have a distinct role during the military operations.

7. Affirmation of the implementation of the decision of the Council of Ministers to sell the role and apartments to the legal occupier, provided that these countries or apartments are not operational - that is, serving the governmental facility for the purposes of the concerned department - and subject to the consent of the owner.

8 - Confirmation of the House of Representatives to repeal the legislative orders 21 and 36 of 2005 on the distribution of residential plots of the three presidencies.

9. The Ministry of Finance to transfer its share of the orchards to the right holders

10- Cancellation of the decisions of the Council of Ministers No. 39 of 2009, including the allocation of plots of land to members of the permanent government, and 54 of 2009, including the allocation of plots of land for owners of special grades and directors-general, and 540 for the year 2013 regarding the sale of plots of land to the imams of mosques in the Shiite Waqfin Sunni and priests of places of worship in the Office of Endowments of Christian religions, Yezidi and Sabean Mandaean.

11. To maintain the distribution of plots of land allocated to the segments covered by legislation in force in accordance with legally prescribed conditions.

12. The distribution of plots of land by birth or place of employment shall be for a period not less than five years.

13. The Ministry of Construction and Housing and the Secretariat of Baghdad to complete the technical, legal and financial procedures for the implementation of the above.

14- The relevant parties shall hold workshops within two weeks from the date of issue of this resolution to the executive managers to announce the currently distributed land for distribution, provided that the land available to them shall be announced every six months.

The Cabinet has already issued a decree that the Ministries of State and non-affiliated bodies of the Ministry and all governorates to ensure the needs of the products of the companies of the Ministry of Industry and Minerals and public companies of other ministries to be processed requests of ministries and entities not linked In the Ministry and all governorates in a direct contract with the Ministry of Industry and Minerals and public companies of other ministries to promote the national product, and in this regard has included the Federal Budget Law for the past three years TAC The federal and provincial ministries must abide by the purchase of their products from the federal ministries, provided that the value added of the collected and manufactured products is not less than 25% of the import cost of the value added. The prices of the local products should not be higher than the imported ones by more than 10% Quality and quality ".

He continued, "In continuation of this effort to protect the Iraqi industry, the Cabinet approved the recommendations of the Committee to promote the national product formed by the Council of Ministers Resolution No. 405 of 2015 and as follows:

1- Set a specific relative weight when re-calculating the value added of the product address the issue of price problems of imported goods competing in the domestic market resulting from the dumping cases experienced by the Iraqi market currently.

2. The above-mentioned Commission shall take the subject of the national product of the private sector covered by the Law on the Protection of Iraqi Products, in a manner that encourages the private sector through the purchase of its products by the State.

3 - The same committee to introduce a new reading of value added for inclusion in the draft federal budget law next fiscal year 2018.

He pointed out that "in the same context related to stimulate the Iraqi industry, the Council of Ministers approved the Ministry of Commerce to contract with a specialized company to build a plant to produce edible oil and distribute them within the ration card items exclusively and under the supervision of the government in order to reduce unemployment and support production and the national economy with the provision of revenue To the Ministry of Commerce, provided that the Ministry does not bear any financial costs other than the preparation of the land and the establishment of the project of the plant on a piece of land in Khor Al-Zubayr owned by the General Company for food trade. "

[yota691]

Distribution of residential units of Baghdad Flowers Complex soon

15/8/2017 1:06 am    Baghdad / Wafa Amer   Architecture / Saad Hassan     Baghdad Investment Commission will soon distribute part of the units of the residential complex (flowers of Baghdad), while achieving advanced completion rates project (Jawahar Degla) in the holy region of Kadhimiya.    Meanwhile, the local Maysan government has confirmed that its new project will provide nearly 4,000 housing units for the province's residents.  The head of the Baghdad Provincial Authority, Shaker al-Zamili, told Al-Sabah that the company executing the project of the residential complex of Zuhair Baghdad in Al-Nairiya area has completed more than 80 percent of the project, which cost $ 242 million. He said it will provide five thousand and 124 housing units for Ministry employees. And citizens wishing to purchase such units.  He added that the area of the units: (80, 140 and 150) square meters distributed between 205 buildings, noting that the sale will be installments by the adoption of loans granted by the Housing Fund and the Bank of Rashid and the repayment period of 15 years, revealing that the next phase will see the distribution of apartments with an area of 80 meters between registrars according to precedence , Revealing the formation of a committee of representatives of the company and the Bank of Rashid and Baghdad Investment Authority for the process of submission and registration.  In the same context, Zamili said that the Commission has made remarkable progress in the project (Jawhar Degla) housing in the holy city of Kadhimiya with an area of 54 donums, explaining that the project consists of 12 buildings type (A) and six buildings type (B), each consisting of 11 floors, (110, 135, 160 and 204 meters), pointing out that work is under way to complete models of units to launch their sale.  The province of Maysan, has concluded yesterday, an investment contract for the national housing project, according to the governor Ali Douai Lamm, who explained to the "morning", the project includes the construction of three thousand and 812 horizontal housing units with infrastructure services such as water and sanitation, streets, electricity, In addition to public services such as schools, health clinics and police station, revealing that the project contains commercial malls, markets, sports clubs and parking   lots.

[yota691]

Reconstruction adopts a new approach to finance stalled projects

17/8/2017 1:24 am    Baghdad / Wafa Amer The   Ministry of Construction, Housing, Municipalities and Public Works is preparing to adopt a new method of financing suspended projects, after the approval of the Council of Ministers, to complete the important projects by international companies, in return for giving profits after operating for a certain period, and revealed the suspension of 20 investment projects in the housing sector because of The financial crisis.   The Undersecretary of the Ministry, Engineer Dara Hassan Rashid said in an exclusive interview with «morning»: The financial crisis experienced by the country because of the decline in world oil prices, significantly affected the projects implemented by the ministry and included in its plans, noting that his ministry is trying as much as possible to accomplish the task In accordance with the budgetary allocations in the budget.  He added that his ministry has worked during the past period to find alternatives to finance the stalled projects, as it recently filed a request to the Council of Ministers, including funding BOT method, explaining that this method includes the assignment of important projects not completed by large international companies in order to accomplish them, These companies return financial from the project after operating for a certain period, and then return the full profits of the state.  Rashid pointed out that his ministry is waiting for the approval of the Council of Ministers to this, revealing the adoption of both Turkey and Jordan for the said system, pointing out at the same time that he has achieved great success, especially as he contributed to the advancement of infrastructure in a large number of developed countries.  He revealed the possibility of the ministry to finance its projects through loans from international financiers, but the problem lies in the absence of a banking system grants guarantees to these financiers, which makes the ministry a big problem.  On the housing projects, the Undersecretary of the Ministry referred 20 projects to invest in Baghdad and the provinces, but these projects are currently stalled because of the financial crisis and the control of the gangs "da'ash" terrorist on some areas of the country, indicating that these projects were supposed to provide 20 to 30 thousand units Housing at the end of this year.  He pointed out that the investment law No. 13 of 2006 amended includes paragraphs attractive to investment, so the ministry seeks to build new complexes, within the post-«dads», noting that it works continuously to get rid of the slums and the social, economic and psychological problems, Is increasing in poor areas, and therefore the focus on building residential complexes includes the population of those slums as the basis.

[yota691]

Baghdad investment bears the Rashid Bank and the Municipality of Baghdad and finance the responsibility for the delay in the completion of residential complex

 

Chairman of the investment Baghdad Shaker Zamili, "Economy News"

Economy News Baghdad:  The head of the Baghdad Investment Authority, Shaker Zamili, the Bank of Rashid and the Secretariat of Baghdad and the Ministry of Finance responsible for delayed delivery of residential apartments in the residential complex in the Al-Naiyariya area east of Baghdad to their owners for non-compliance of these parties with the terms of the contract. Al-Zamili said in an interview with Al-Iqtisad News that "the delay in the housing complex project is due to the lack of commitment of the Ministry of Finance to the contract between them and the investor to evacuate the land.  He added that "the contract formula is between the employee and the bank and not with the investment company," adding that "the infrastructure of the project has not been completed so far of electricity, water and sewage because the secretariat of Baghdad so far did not agree on the final designs, despite the passage of four years.     Views 374   Date Added 08/09/2017

[yota691]

A German company is preparing to build 100,000 housing units in Basra

Readers

 

 

A German company is preparing to build 100,000 housing units in Basra

 

12-10-2017 02:28 PM

The Euphrates -

 

Basra Governor As'ad al-Eidani said the local government is moving to exploit the empty areas located near the Shatt al-Basra to build housing units in the name of 'new Basra'.

 

Al-Eidani said in a press statement that the housing units will be built on 3 floors to accommodate the demographic momentum in the province of Basra. He added after meeting with the delegation of the German company in the Office of the province that it was agreed in principle with a German company to build 100 thousand housing units in the province at low prices. Explaining that the local government of Basra will not pay any sums to the company in the construction work and the establishment of units, and what will be provided is only the land that will be used to establish these units and will be sold at low prices.

 

For his part, the general manager of the company 'CBB' German Fritz Scherbgers, they are 'pending the issuance of formal and legal approvals by the competent departments for the purpose of implementation of the project'.

[yota691]

Housing Fund gives loans worth KD 25.7 billion during last month

 

Housing Fund

Economy News Baghdad: The Ministry of Housing and Municipalities announced that the Housing Fund granted 25.7 billion dinars as loans to citizens during the month of October last year. "The Housing Fund of the Ministry has made 1,910 credit payments in Baghdad and the provinces in October," Housing, Municipalities and Public Works Minister Ann Nafie Aussie said in a news release received by The Economist News. She added that "the number of credit payments for October 2017, the first installment (674) and the second (731) and the third (505) batch," indicating that "the total disbursements for all payments disbursed and distributed in Baghdad and the provinces of (25,787,775,000) billion dinars." She explained that "this tender must be supported and supported by the government to allocate funds from the public budget in order to continue to give him, both on the issue of individual lending, by raising the ceilings of lending to citizens as well as the strong entry into the responsibility of the construction of housing complexes, which contributes effectively to the solution Crisis experienced by large segments of society. "   Views 103   Date Added 22/11/2017

[ChuckFinley]

Thanks Yota, keep them coming.  

[yota691]

Rafidain Bank set up new facilities for the purchase of residential units

By

 rami

 -

December 31, 2017

9

0

 

 

 

Rafidain Bank announced on Sunday the establishment of new facilities to grant loans for the purchase of housing units in the compound Basmaya.
The bank’s press office said in a press statement that it had set up easy facilities for these loans and that its branches had been attracted by those wishing to grant them by canceling the sponsor’s condition if the citizen pays 25 percent of the value of the housing unit.
He pointed out that “the loan period of 15 years and repay the amount with interest over (180) monthly installments on a straight line basis.”

 

[yota691]

Rafidain sets new facilities for the purchase of housing units

 

Economy News _ Baghdad Rafidain Bank announced on Sunday the establishment of new facilities to grant loans for the purchase of housing units in the compound Basmaya. The bank's media office said in a press statement that "the establishment of soft facilities for these loans and through the branches have seen a turnout by those wishing to grant them through the cancellation of the condition of the sponsor in case the citizen pays 25 percent of the value of the unit Residential ". He pointed out that "the loan period of 15 years and repay the amount with interest over (180) monthly installments on a straight line basis."     Views 9   Date Added 12/31/2017

[yota691]

Rafidain: Cancellation of the condition of the guarantor in front of those who pay a quarter of the value of the housing unit

 

 From 2017-12-31 at 11:16 (Baghdad time)

Baghdad Mawazine Toews

The Rafidain Bank, on Sunday, a large facilities in the conditions of granting loans for the purchase of housing units in Basmaya complex.

The bank's media office said in a statement that it had set up easy facilities for these loans, and that its branches had been attracted by those wishing to grant them by canceling the guarantor's condition if the citizen pays 25 percent of the value of the housing unit.

The statement added that the loan period is 15 years and repay the amount with interest over 180 installments per month on a straight line basis

[Synopsis]

A little math.

 

Say the loans are 50 million dinar. 25% of 50 million is 12.5 million dinar. If 1 million loans (nominally 2.5% of the Iraqi population) were granted, 12.5 trillion dinar would be sucked out from under the citizen’s mattresses and off the Iraqi streets. That is a lot of large denomination  CHUNKAE’ MONAE’ pulled out of circulation!

 

Go Moola Nova!

[yota691]

Rafidain Bank sets unit prices in the Basmaya residential project in Baghdad

By

 rami

 -

January 1, 2018

16

0

 

 

 

Rafidain Bank on Monday set the price of housing units in the Basmaya project of 10 percent of the value of the housing unit.
The information office of the bank said in a statement today that the value of the first installment of the housing unit, which is the area of 100 meters (7,560,000) seven million five hundred and sixty thousand dinars. The price of the first installment of the housing unit area of 120 meters (13,608,000) thirteen million six hundred and eight thousand dinars.
The statement added that the price of the first installment of the housing unit, which amounts to 140 meters may be (21,168,000) one and twenty million and one hundred and sixty-eight thousand. He explained that the payment of the monthly installments of the residential unit shall be one month after the date of organizing the contract to grant the loan and the monthly installment of the payment as follows:
1 – 437,360 dinars for the apartment area of 100 meters
2 – 492,030 dinars for the apartment area of 120 meters
3 – 535,766 dinars for the apartment area of 140 meters.

[Synopsis]

Depending on where these housing units are (war torn areas for example), this could be a good opportunity to get the CHUNKAE' MONAE' out from under the citizen's mattresses and off the Iraqi streets!

 

For example:

 

1.5% of the Iraqi population is 0.015 x 38 million = 570,000 loans x   7,560,000 dinar/loan = 4.3 Trillion dinar off the Iraqi streets

1.0% of the Iraqi population is 0.010 x 38 million = 380,000 loans x 13,608,000 dinar/loan = 5.2 Trillion dinar off the Iraqi streets

0.5% of the Iraqi population is 0.005 x 38 million = 190,000 loans x 21,168,000 dinar/loan = 4.0 Trillion dinar off the Iraqi streets

 

For this example, a total of 13.5 Trillion IQD pulled off the Iraqi streets or about 1/3 of the estimated 40 Trillion IQD on the Iraqi streets.

 

I suspect this example uses modest (low) percentages of the Iraqi population that will get these loans. Also, there are other loans for vehicles and other things that could have a similar effect of pulling the CHUNKAE' MONAE' off the Iraqi streets.

 

With the Government salaries going to electronic and the condition of some of the higher denomination notes, I suspect the large denominations are being pulled off the Iraqi streets and the 40 Trillion number may be an old one and the large denomination count in circulation goal may be at or near.

 

Go Moola Nova!