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The Central Bank of Iraq raises the ceiling for housing financing and adjusts the payment period

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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  • 5 months later...

125 million dinars new housing loan

Saturday 06 February 2021 62

125 million dinars new housing loan

 
 Baghdad: Morning
 
The Real Estate Bank launched, on Friday, housing loans ranging from 120 to 125 million dinars, with a repayment period of up to 20 years.
"The real estate bank will, as of next week, launch the initiative of the Central Bank of Iraq to buy housing units, and they are of two types," the bank's media said in a statement.
The statement added that "the loan to purchase housing units will be at the amount of 100 million dinars, while the loan for the purchase of housing units within investment housing complexes will reach 125 million dinars, with a repayment period of 20 years."
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Extending the repayment to 20 years ... The Housing Fund clarifies the new loan mechanism

 
  Baghdad: Hoda Al-Azzawi 
 
The Housing Fund explained the new mechanism for granting loans to citizens wishing to build or add a building to their housing units, and the Director General of the Fund of the Ministry of Construction, Housing and Municipalities, Diaa Mujd Abdullah, stated that the maximum loan amount is 75 million dinars, to be paid over 20 years.
Abdullah added to “Al-Sabah”, that “the loan amounts are different according to the regions and districts. The upper limit of the loan in Baghdad and the provincial centers is 75 million dinars, and in the outskirts of Baghdad 60 million dinars, and the outskirts of the provinces 50 million dinars, while the loan period has become 20 years after that It was 15 years old ».
He stated that «the housing fund will be responsible exclusively for the construction and addition of construction, while the real estate bank is responsible for purchasing housing units in investment complexes for an amount of up to 125 million dinars, and outside the complexes with a loan amount of 100 million dinars, provided that the interest of the administrative commission is deducted at the amount of 5 Percent and taken one time ».
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The Real Estate Bank announces that the target number of Iraqi "central" loans has been exceeded

The Real Estate Bank announces that the target number of Iraqi "central" loans has been exceeded
Iraqi dinar - archive photo
 

 

Mubasher: The General Director of the Real Estate Bank in Iraq announced that the number of applicants for loans from the Central Bank's initiative exceeded the number specified in the bank’s share.

The director general of the bank, Abdul Mohsen Alwan, said in a statement to the Iraqi News Agency (INA), today, Wednesday, that "there are those who are accused that the site does not open, but because of the momentum, and the electronic submission guarantees the borrower's right to the loan."

The director added, "We refuse to mediate between us and the clients applying to borrow, and we seek to facilitate procedures, but we are bound by controls that cannot be violated, and we do not give any exceptions."

For her part, Director of the Credit Department at the Real Estate Bank, Suhair al-Qaisi, said, “The Real Estate Bank is implementing the initiative of the Central Bank of Iraq under the supervision of the Supreme Committee for Lending of the Office of the Prime Minister, and includes supporting housing projects and facilitating the Iraqi citizen's obtaining a housing loan within the housing complexes of the Investment Commission in Baghdad and all governorates Except for the Kurdistan region. "

Al-Qaisi added, "The momentum on the part of the citizens is great for the real estate bank, so it needs other major initiatives in order to secure other amounts. According to the Ministry of Planning, the need until 2007 was around three and a half million housing units, and the number has increased so far, and we have implemented an initiative." Three years ago, it was unable to cover 20,000 housing units. "

And she continued, "The real estate bank’s share of the central bank’s initiative covers a thousand loans only. The number of loan applicants electronically has reached 1500, so it is not possible to cover all applicants."

The real estate bank’s share of the initiative amounted to 875 billion dinars. The bank also launched two types of loans, the first amounting to 125 million for the purchase of housing units in investment complexes without interest, and the second by 100 million for the purchase of residential homes, provided that their area is not less than 100 meters.

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{Al Furat News} publishes the link to the electronic form for the bank's mortgage loans
  
{Baghdad: Al Furat News} Our agency publishes the electronic form for real estate bank loans to apply for a loan of 100 and 125 million dinars to buy a housing unit

According to the bank, the loan is of two types, with a payment of 20 years
- purchase from housing investment complexes
- purchase of real estate outside investment housing complexes - home - housing to
apply for loans .. Click here

 

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 July 08, 2021
The Central Bank of Iraq decides to increase the allocation to the housing sector 

 



The Board of Directors of the Central Bank of Iraq decided to increase the allocation to the housing sector to more than (1.9) trillion dinars, including (1) trillion dinars to the real estate bank and about (900) billion dinars to the Housing Fund, to raise their ability to make initiative funds available to the largest number of beneficiaries.
 
This brings the total amounts allocated to the Real Estate Bank and the Housing Fund to more than (3.6) trillion dinars.
 
Central Bank of Iraq 
information Office 
July 8, 2021
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The Central Bank of Iraq decides to increase the allocation to the housing sector by 1.9 trillion dinars

The Central Bank of Iraq decides to increase the allocation to the housing sector by 1.9 trillion dinars
Central Bank of Iraq
 

Mubasher: The Board of Directors of the Central Bank of Iraq decided to increase the allocation to the housing sector to more than 1.9 trillion dinars.

 

The Central Bank allocated, according to a statement today, Thursday, about one trillion dinars to the real estate bank, in addition to 900 billion dinars to the Housing Fund; To raise their ability to make the initiative funds available to the largest number of beneficiaries.

The Central Bank pointed out that the total amounts allocated to the Real Estate Bank and the Housing Fund amounted to more than 3.6 trillion dinars .

Yesterday, Wednesday, the Central Bank decided to work to encourage the adoption of energy production tools from renewable sources , and to work with the Higher Committee for Lending to ensure the processing of a proportion of the electric energy generated from renewable energy sources (solar panels) in the investment housing complexes benefiting from the initiative.

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928.jpg
The logo of the "Association of Iraqi Private Banks"
  

 banks


Economy News - Baghdad

The Association of Iraqi Private Banks announced that private banks have been granted more than 100 billion dinars in housing loans within the initiative of the Central Bank, one trillion dinars .

The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, said in a press statement, that private banks contribute significantly to supporting the housing sector and easing the crisis on citizens, through soft loans amounting to 100 million dinars extending over 15 years and at a 2% decreasing interest, noting that More than 44 private banks grant loans to citizens to buy housing units .

Tariq noted that the volume of funding has currently reached more than 100 billion dinars, and there is a great demand by citizens for housing loans, pointing out that the policy of the Central Bank is supportive of citizens, as it reduced the interest on housing loans from 4% to 2% decreasing .

And he indicated that the non-employee citizen has the right to buy a housing unit in the complexes only, while the employee has the right to buy in the residential neighborhoods and investment complexes .

The Executive Director of the Association of Private Banks confirmed that private banks are working according to the general approach of the state in ending the housing crisis by increasing housing lending .

 
 
Views 146   Date Added 07/10/2021
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Within the initiative of the Central Bank .. Granting private banks more than 100 billion dinars

Economie10:24 - 10/07/2021

 
image
 
 

 

Baghdad - Mawazine News
The Association of Iraqi Private Banks announced, on Saturday, granting private banks more than 100 billion dinars in housing loans within the initiative of the Central Bank, one trillion dinars. The
executive director of the Association of Iraqi private banks, Tariq Ali, in a statement received / scales News / copy of it, private banks contribute significantly to the support of the housing sector and ease the crisis on the citizens, through soft loans amounting to 100 million dinars stretch over 15 years and an interest rate of 2% declining, noting that "more than 44 private banks granted loans to citizens to buy housing units , "
he noted Tariq, that "funding currently amounted to more than 100 billion dinars, and there is a large turnout by citizens On housing loans, he pointed out that "the policy of the Central Bank is supportive of citizens, as it reduced the interest on housing loans from 4% to a decreasing 2%."
And between, the "citizen , the employee is entitled to purchase housing units in only complexes while the employee is entitled to purchase in residential neighborhoods and complexes of investment."
The Executive Director of the Association of private banks, that "private banks operate in accordance with the general curriculum of the state to end the housing crisis By increasing housing lending.” Ended 29/A43

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 Baghdad: morning 
Private banks granted more than 100 billion dinars in housing loans to citizens within the initiative of the Central Bank, one trillion dinars. 
The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, said in a statement received by the Iraqi News Agency "conscious": that private banks contribute to supporting the housing sector and alleviating the crisis on citizens.
 Through soft loans amounting to 100 million dinars, extending over 15 years, at a 2% decreasing interest rate, noting that more than 44 private banks give loans to citizens to buy housing units.
Tariq noted that “the volume of funding has now reached more than 100 billion dinars, and there is a great demand by citizens for housing loans,” noting that “the policy of the Central Bank is supportive of citizens, as it reduced the interest on housing loans from 4 percent to a decreasing 2 percent.” 
And he indicated that the non-employee citizen has the right to buy a housing unit in the complexes only, while the employee has the right to buy in the residential neighborhoods and investment complexes.
In addition, citizen Amjad Hammad stressed that “the mechanism for granting loans by all banks must bypass some routine episodes that confuse the loan applicant, but rather it must be more accessible, and reduce guarantees to possible levels for the loan holder, and that the housing unit be the guarantor.” 
for loan.” 
He pointed out that «the loans, although they have achieved relative progress in the housing file, but need more support for this sector, in order to alleviate the population pressure, which has reached great limits in most cities of Iraq». 
In turn, the citizen Saad Kazem between: The loans help to organize the reality of housing and change the paths of many citizens, as they go to the head of the family to residential complexes or fundamentalist neighborhoods, after he was thinking of going to slums, that is, agricultural housing, which requires the inclusion of the largest number of citizens with these loans. It is preferable that this period be associated with the distribution of residential lands to citizens so that they can use the funds in the right direction. 
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  •  Time: 07/17/2021 20:23:41
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The Real Estate Bank cancels the interest of the central bank initiative loans
  
{Economic: Al Furat News} The Real Estate Bank announced, on Saturday, that the interest of the loans of the Central Bank of Iraq initiative for the current loan and the previous loan only has been cancelled.
 

And the media office of the bank stated in a statement that {Euphrates News} received a copy of it, that “based on what was stated in the book of the Department of Financial Operations and Debt Management / Internal Lending Department No. Mohsen Alwan, the interest of the Central Bank of Iraq initiative loans has been canceled for the current loan and the previous loan only.

The statement added, "This decision came as a result of the economic recession that the country is going through due to the Corona pandemic and to reduce the burden on citizens."

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3 hours ago, yota691 said:
  •  Time: 07/17/2021 20:23:41
  •  
  •  Reading: 1,053 times
The Real Estate Bank cancels the interest of the central bank initiative loans
  
{Economic: Al Furat News} The Real Estate Bank announced, on Saturday, that the interest of the loans of the Central Bank of Iraq initiative for the current loan and the previous loan only has been cancelled.
 

And the media office of the bank stated in a statement that {Euphrates News} received a copy of it, that “based on what was stated in the book of the Department of Financial Operations and Debt Management / Internal Lending Department No. Mohsen Alwan, the interest of the Central Bank of Iraq initiative loans has been canceled for the current loan and the previous loan only.

The statement added, "This decision came as a result of the economic recession that the country is going through due to the Corona pandemic and to reduce the burden on citizens."

Sounds a bit like gesara to me

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1 hour ago, horsesoldier said:

Honestly now, does anyone think there’s going to be a RI/RV this year ???? 2022 maybe 1st Quarter if we’re lucky: these thieves just can’t bring themselves to do anything but steal 

I do. I believe it will happen shortly after the stolen election is given to the rightful winner.

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9 hours ago, Longtimelurker said:

I believe it will happen shortly after the stolen election is given to the rightful winner.

it depends on the candidate's backgrounds. will every candidate be from a good and clean person ( never touch the corruption at all in the lifetime )? is al-khademi really really a good and clean person ( never touch the corruption at all behind closed door )?

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2 minutes ago, 3 bucks new rv rate said:

it depends on the candidate's backgrounds. will every candidate be from a good and clean person ( never touch the corruption at all in the lifetime )? is al-khademi really really a good and clean person ( never touch the corruption at all behind closed door )?

sorry write the wrong name. what i mean is Al-Kazemi, not al-Khademi.

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The Housing Fund announces the opening of electronic submission for the examination procedure
  
{Economic: Al Furat News} The Iraqi Housing Fund, one of the formations of the Ministry of Construction, Housing and Public Municipalities, announced, on Thursday, the opening of the electronic submission for the examination procedure.
 

The Housing Fund set, in a statement, a copy of which {Al-Furat News} received, on (23) corresponding to tomorrow, Friday at nine o'clock in the morning, the date for the applicant for the first disclosure according to the electronic form number found in the receipt of the transaction.

As for the submission of the second and third statements, it will be through the loan number found in the payment receipt for the monthly installment, knowing that the number of statements will be open and without a specific number until the end of the month.

To apply..  click here

 
 
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The Housing Fund announces the start of electronic submission to accept lending transactions, starting next Sunday
  
{Economist: Al-Furat News} The Housing and Reconstruction Fund has set, on Thursday, the date for electronic submission to accept virtual transactions, starting next Sunday.
 

And the fund stated in a statement, that {Euphrates News} received a copy of it, that "according to the directives of the Minister of Construction, Housing and Public Municipalities, the Iraqi Housing Fund announces the start of electronic submission to accept lending transactions as of Sunday, 8/1/2021 at nine in the morning."

The statement added, "Admission will be open until the end of the scheduled quota for the remaining months of this year, according to the attached schedule below for each governorate."

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Al-Rafidain identifies 3 categories covered by housing loans

Economie09:24 - 06/08/2021

 
image
 
 

 

 

Baghdad - Mawazine News

Rafidain Bank, on Friday, identified three categories covered by housing loans.

And the bank stated in a statement that "Mawazine News" received a copy of it, that "home loans amount to 50 million dinars."

He added, "It is granted to employees, members of the security forces and citizens." Ended 29/A43

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      The Central Bank of Iraq decides to increase the allocation to the housing sector
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