CBI News 07/08/2021

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Al-Rafidain Bank announces housing loans for multiple categories

 

banks Economy News _ Baghdad Today, Friday, Al-Rafidain Bank announced housing loans for employees of the security forces and citizens. The bank stated in a brief statement received by "Al-Iqtisad News", that "housing loans amount to 50 million dinars granted to employees, members of the security forces and citizens."

Views 191   Date Added 06/08/2021

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The Housing Fund completes its lending plan for 2020

Sunday 08 August 2021 113

 

  Baghdad: Huda Al-Azzawi

 

The Ministry of Construction, Housing and Public Municipalities announced that its housing fund completed its lending plan in full last year, indicating that all the fund's transactions were converted to electronic to facilitate the matter for the citizen. The media center of the ministry said in an exclusive interview with "Al-Sabah": "The ministry has set among its priorities the provision of a suitable housing environment for the citizen and has drawn up a special housing policy in cooperation with the concerned authorities to be integrated for all sectors of the state through the implementation of housing complexes within the investment plan and the granting of housing loans." Noting: "The Iraqi Housing Fund, one of the ministry's formations, continues the lending process through a lending plan distributed among all the governorates of Iraq (except for the Kurdistan region) that depends on the amounts obtained from borrowers as well as the amounts received from the initiative of the Central Bank, and these amounts are distributed among the governorates according to a percentage Population (50%) and the poverty line (50%).

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The Real Estate determines the transactions covered by the housing loan and the procedures for eliminating the commentators

 

money and business Economy News _ Baghdad The Real Estate Bank announced, on Wednesday, that the amount allocated for housing loans will include 50,000 transactions, and while he indicated that the loans are covered by the life insurance law, he revealed procedures that helped eliminate the commentators. The director of the Real Estate Bank, Abdul Mohsen Alwan, said in an interview with the Iraqi News Agency and followed by "Economy News", that "the door to apply for loans has been open since the Prime Minister launched the new initiative," noting that "the application is still continuing until now." He added, "The real estate bank signed a contract with the Central Bank in the amount of one trillion dinars regarding housing loans, as this amount will cover about 50 thousand lending transactions," noting that "the real estate bank is currently working on loans for the Central Bank of Iraq's initiative (purchase loans) for housing units." From investment housing complexes or outside residential complexes, as for building loans and building additions, the Housing Fund works, and in the event that we are required to work in them, the bank has a long history in them. He continued, "The Central Bank's initiative includes loans to purchase a housing unit within residential investment complexes and a loan to purchase a housing unit outside residential complexes," explaining that "the bank provides loans to purchase a housing unit directly without building, provided that the area of the property is not less than 100 meters." And he indicated, "There is no difficulty in applying for loans, as there is an electronic link that guides the applicant to the electronic form or by writing on the website of the Iraqi Real Estate Bank, which includes the electronic form and contains the information required for applying for the loan, after which the applicant's code will be given. After the success of the information that was filled out in the form,” he pointed out, “after a short period, a notification comes to the applicant to review the bank to complete the remaining information. As for the guarantor, it is a prerequisite for accepting the transaction if the borrower is an earner (not an employee) in addition to the property reservation, from In order to preserve public money and not waste it.” He continued, "This context is not new, as it is used in previous loans and is used by all banks and departments that work with housing loans," noting that "the loans of the bank, especially the loans of the Central Bank initiative, are covered by the life insurance law (if the borrower is exposed to a natural death, the loan amount is amortized) ". Regarding the elimination of the commentators phenomenon and the scourge of corruption, Alwan stated that "the electronic form developed by the real estate bank greatly helped to eliminate the commenters and prevented friction between the employee and the citizen," explaining that "the review is by the owner of the transaction exclusively."

Views 90   Date Added 09/01/2021

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Deputy Governor of the Central Bank speaks to Shafaq News Agency about housing loans and their benefits

 

 2021-09-07 11:17

 

Shafaq News/ The Deputy Governor of the Central Bank of Iraq, Ihsan al-Yasiri, confirmed today, Tuesday, the launch of loans worth 5 trillion dinars to address the housing crisis in Iraq, while pointing out that the disbursement of soft loans to citizens is without interest. 

Al-Yasiri told Shafaq News Agency, "The Central Bank launched an initiative of five trillion dinars earlier to support and address the housing crisis in Iraq," noting that "the housing initiative is through the real estate bank to buy housing units in the complexes or outside it, while the housing fund initiative is to finance construction requests." housing units by citizens. 

He added that "the housing initiative is one of the most successful initiatives that will contribute to addressing housing in Iraq," noting that "the housing initiative is through the Real Estate Bank and the Housing Fund without interest, and what is taken from citizens is just a simple commission and the payment period for a long period of up to 20 years." 

The Deputy Governor of the Central Bank pointed out that "there are other initiatives by the bank for the industrial and commercial sector."

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A new statement from the Central Bank regarding lending transactions

Economie

2021-10-21 | 02:35

 

 

1,939 views

 

 

Today, Thursday, the Central Bank of Iraq issued a clarification regarding the transactions of lending to citizens.

The bank's media office said in a statement received by Alsumaria News, "The Central Bank continues to provide the necessary financing to the real estate bank to complete the transactions of lending to citizens who registered until September 15, 2021 on housing units outside investment housing complexes."

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A government bank issues an amendment to the terms of the 100-salary loan

 

 2021-11-14 06:25

 

 

Shafaq News/ Al-Rasheed State Bank decided on Sunday to exempt retired employees who borrowed the 100-salary loan from the condition of mortgaging the property.

 

The media office of the bank said, in a statement received by Shafak News Agency, that the previous borrowers were exempted from mortgaging a property upon their retirement in the event that the remaining amount of the loan does not exceed 20 million dinars, and a bill of exchange is accepted instead of it at the time of request and the first guarantor.

 

And he indicated that the amendment includes borrowers who submitted a real estate guarantee as a mortgage to the bank, and they can release the mortgage when the loan amount reaches 20 million dinars, whether access is through monthly payments or early repayment.

 

He pointed out that a clearance is not granted, but the borrower is given a letter of support to cover the remaining amount with a bill of exchange, and there is no objection to releasing the mortgage.

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Al-Kazemi’s advisor clarifies the mechanism for dividing the interest granted on advances and loans

 2021/12/11

 

 91

 

• Baghdad / Al-Mawrid News

Today, Saturday, the financial advisor to the Prime Minister determined the mechanism for granting housing loans to citizens and the repayment period, stressing that the housing loan commission has been reduced to 5% to be paid in one payment, revealing the mechanism for dividing the housing loan commission rate between the Central Bank and loan-granting banks.
Mazhar Salih said, in a statement to the official agency: "The Central Bank of Iraq, through the housing initiative, took over reducing the loan profit to become a bank commission of about 5%, which is collected only once in advance when granting a mortgage or housing loan only, to cover the administrative cost of the loan itself and be repaid." The loan is over a period of 20 years.
He added, "The Central Bank charges 1% of the commission, and the remaining 4% is for the bank or housing fund that manages the loan, to cover the costs of servicing administrative loans."
He continued: "This means that the loans of the Central Bank's housing initiative, in particular, are among the soft loans in which (the grant element) rises in order to serve the path of economic development and support the housing boom in our country, at the lowest costs and free of bank interest."

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Al-Rafidain: Supporting and financing the construction of residential complexes is a priority for the bank’s work

 

 2022-01-01 01:10

 

Shafaq News/ Al-Rafidain Bank stated on Saturday that supporting and financing the construction of residential complexes in the regions and cities of Iraq is a "priority for the bank's work."

In a statement received by Shafak News Agency, the bank's media office said, "The aim of supporting investment projects is to strengthen the national economy and eliminate unemployment."

Iraq suffers from a stifling housing crisis due to the increasing number of Iraq's population and the limited housing complexes, in addition to the inability of the individual to build his own housing unit due to the high cost of land and construction materials.

In early February 2021, the Central Bank of Iraq launched a new initiative to grant employees loans worth 125 million dinars to purchase housing units in investment housing complexes.

However, specialists saw the Central Bank's initiative as "like a fantasy", because of the administrative routine and complex instructions for government banks, and the profits and burdens placed by those banks, which makes the person who wants to obtain the loan to buy a housing unit think carefully before taking this step.

The former Minister of Construction and Housing, Bankin Rekani, had announced in September of the year 2021, Iraq's need for 3 million and 500 thousand housing units to address the housing crisis in the country.

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The Housing Fund reveals the funds disbursed in 2021

•  Time: 01/18/2022 11:21:39
•  
•  Reading: 611 times

  

{Economic: Al Furat News} The Housing Fund of the Ministry of Construction, Housing and Public Municipalities counted, on Tuesday, the volume of transactions and funds spent in 2021.

A statement by the Fund's media office stated that "the total amounts disbursed in all governorates in the year 2021 amounted to 850 billion and 551 million and 500 thousand dinars," noting that "these amounts exceed what was disbursed in the year 2020 by more than double, in which the disbursed amounts amounted to 361 billion and 396 million dinars. and 750,000 dinars.

The statement indicated that "the number of electronic transactions that were actually accepted in the year 2021 amounted to (21942) transactions, which is double the transactions accepted in the year 2020, which amounted to (12,325)."

He explained, "The number of exposed transactions in the year 2021 amounted to (45,345) transactions, which is double the transactions that were revealed in the year 2020 (25,036) transactions.

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Al-Rafidain issues a statement on the launch of housing loans

 

 

182 Policy 01/24/2022 16:49 Today ,

Monday, Al-Rafidain Bank issued a statement on the launch of housing loans. And the bank said in a brief statement received (Baghdad today), that "the bank will soon launch housing loans." He added that "the application for these housing loans will be through its branches."

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The Investment Authority Contracts With A Specialized Company To Audit And Review The Financial Transactions Of Bismayah

01/24/2022

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Earth News/ The National Investment Commission announced today, Monday, a contract with a specialized company to audit and review the financial transactions of the Basmaya residential complex.
The head of the authority, Suha Daoud Najjar, said, in a statement received by Earth News, that "to confirm the approach of transparency, combating corruption and preserving public money, the National Investment Authority obtained the approval of the Ministerial Economic Council to contract with a company specialized in auditing accounts to audit and review the financial transactions of the Basmaya residential complex and the executing company." “.
She added, "This step comes in order to put the work in the complex on the right path, and in order to ensure the safety of transactions with state funds and to protect the rights of citizens alike, as well as to cut off attempts at manipulation and graft."

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A New Decision From The National Investment Commission Regarding Basmaya Apartments

 

LAST UPDATE 01/26/2022 | 3:19 PM

Information / Baghdad..

The National Investment Commission announced, on Wednesday, that it had taken a measure to control cases of manipulation and speculation in the prices of housing units for the Bismayah City project.

The authority said in a statement received by the agency, "Information", that "the head of the National Investment Commission, Suha Daoud Najjar, issued instructions that include not promoting any property transfer transaction to and from the seller and buyer until after 100% payment of the full amount."

And she indicated that "this comes within the framework of the authority's procedures related to controlling cases of manipulation and speculation in the prices of housing units for the Bismayah City project."

Al-Najjar stressed that “the process of promoting transactions will be through legal and official methods, and exclusively by the departments of the relevant authority,” noting that “this matter will be implemented starting tomorrow, Thursday, 27-1 2022.”

Al-Najjar stressed that “the neglect of any sale transaction that does not meet the conditions mentioned above.” finished/25h

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The Investment Authority stops promoting sales transactions with a payment rate of less than 100% for the Basmaya project

 

 2022-01-27 01:29

 

Shafaq News/ The National Investment Commission announced on Wednesday stopping the promotion of sales transactions with a payment rate of less than 100% within the framework of the authority's procedures related to controlling cases of manipulation and speculation in the prices of housing units for the Basmaya residential project in the capital, Baghdad.

This was announced by the head of the commission, Suha Daoud Najjar, in a statement today.

Najjar issued instructions not to promote any ownership transfer transaction from and to the seller and buyer until after the full amount has been paid.

It also decided that the process of promoting transactions through legal and official methods by the relevant authority departments exclusively, and starting tomorrow, Thursday, January 27 - 2022, and any sale transaction that does not meet the conditions mentioned above will be neglected.

https://shafaq.com/ar/اقتصـاد/هي-ة-الاستثمار-توقف-معاملات-البيع-بنسبة-سداد-تقل-عن-100-لمشروع-بسماية

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Investment Authority: Do not deceive the sale and purchase of apartments in Basmaya

Saturday 05 February 2022 120

 

 Baghdad: Nassar Al-Hajj

 

Yesterday, Friday, the head of the National Investment Authority, Suha Al-Najjar, denied the existence of forged contracts or fraud in the sale and purchase of housing units in the Basmaya residential complex.

Al-Najjar told INA: "Within the framework of the authority's procedures related to controlling cases of manipulation and speculation in the prices of housing units for the Bismayah City project, the authority issued instructions that include not promoting any property transfer transaction to and from the seller and buyer until after 100% payment of the full amount."

She added that "the instructions also include that the process of promoting transactions by legal and official means exclusively by the departments of the concerned authority, starting from the first Tuesday of March," stressing that "any sale transaction that does not meet the conditions mentioned above will be neglected."

Al-Najjar expected that "these instructions will result in reducing cases of trafficking in Basmaya apartments and will be within the reach of the real buyer who is looking for a suitable and decent housing opportunity."

And she stressed that "there are no forged contracts or fraud, and that what is happening is the exploitation of the brokers and merchants' class of the supply of housing units and selling them at higher prices, taking advantage of the large public demand that the project is witnessing compared to what is available," expressing the hope that "this will be exceeded after the financial obligations are resolved." exchanged with the Korean side.

 

 

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The Investment Authority reveals the date for promoting property transfer transactions for Basmaya apartments

 

- 04-02-2022 04:50 PM - Number of readings: 2543

 

The head of the National Investment Authority, Suha Al-Najjar, revealed today, Friday, that the process of promoting transactions of transferring ownership of Basmaya apartments through legal and official methods starts from the first of next March, stressing the neglect of any sale transaction for apartments that does not meet the instructions of the last authority.

Al-Najjar said in a press statement, "Within the framework of the authority's procedures related to controlling cases of manipulation and speculation in the prices of housing units for the Bismayah City project, the authority issued instructions that include not promoting any ownership transfer transaction to and from the seller and buyer until after the full amount is 100%."

She added, "The instructions also include that the process of promoting transactions through legal and official means by the departments of the relevant authority exclusively, starting from the first Tuesday of March," stressing that "any sale transaction that does not meet the conditions mentioned above will be neglected."
Al-Najjar expected, "These instructions will result in reducing cases of trafficking in Basmaya apartments and will be within the reach of the real buyer who is looking for a suitable and decent housing opportunity."

She stressed, "There are no forged contracts or fraud, and that what is happening is the exploitation of the brokers and merchants' class of the supply of housing units and selling them at higher prices, taking advantage of the large public demand that the project is witnessing compared to what is available," expressing her hope that "this will be exceeded after the financial obligations are resolved." exchanged with the Korean side.

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Investment: 13,000 new housing units in Bismayah will be completed over the next two years

Economie| 11:15 - 09/02/2022

 

 

 

 

 

Baghdad - Mawazine News
, Head of the Investment Authority, Suha Al-Najjar, said, on Wednesday, that the completed percentage of the Basmaya project is less than the expenses paid.
 

Al-Najjar said, "The completed percentage of the Basmaya project is less than the expenses paid."

Al-Najjar continued in a press conference, that "13,000 new housing units will be completed during the next two years," warning "against buying apartments through brokers."

And she pointed out, "obtaining a decision from the Council of Ministers to facilitate the payments of Basmaya apartments," explaining that "only 30 percent of the residents in the units are committed to paying the financial obligations."

Al-Najjar explained that "the work of the Hanwha Company in Basmaya stopped due to the termination of the contract term and the Investment Authority stopped paying," pointing out that "we will end the cooperation with Iraqna Services Company after the end of the contract."

Al-Najjar went on to say that "the Basmaya highway will be implemented by the Ministry of Construction."

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Al-Najjar: We need 4 billion dollars to complete the Basmaya project, and stopping the sale will continue

• Time: 02/09/2022 11:22:21
•  
• Reading: 1,495 times

  

{Local: Al Furat News} The head of the Investment Authority, Suha Al-Najjar, confirmed today, Wednesday, the authority's need for 4 billion dollars to complete the Basmaya housing project.

Al-Najjar said in a press conference from the city of Bismayah, which was followed by {Euphrates News}, that "we need 4 billion dollars and are determined to complete the Basmaya project, and there are no financial allocations for the project," adding, "The Korean Hanwha Company ran out of financing methods for the Bismayah project, and our negotiations are continuing with Korean company. 

And she indicated, "The residents of Basmaya, who have been reluctant to pay off the loans, bear a great responsibility for the delay in completing the project, and there are families who have lived in the complex for years who have not paid only one installment." 

The head of the commission warned against "buying apartments in Basmaya from brokers," stressing that "the decision to stop the sale will continue and there is a lottery to sell 100 apartments within two weeks prepared in advance." 

She explained that "Iraqna Company to provide services in the Basmaya complex is reluctant and will leave work and we are studying dividing services among several companies or bringing in an alliance of foreign companies." 

And she continued, "We urge the residents to pay the fees for services 

The Ministry of Construction and Housing will implement the highway leading to the city of Bismayah, and it has been included in the budget,” referring to “the introduction of malls and an entertainment city to investment in Bismayah.” 

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Al-Rafidain issues a directive regarding the transfer of ownership of the apartments of the Basmaya complex

 

 2022-02-17 03:30

 

Shafaq News/ Al-Rafidain Governmental Bank directed, on Thursday, its branches covered by the loans of Basmaya Residential Complex not to promote any property transfer transaction to and from the seller and buyer.

 

The media office of the bank said in a statement, received by Shafaq News Agency, that it instructed its branches that donate Basmaya loans, which are (Al-Mustansir - the Caliphs - Al-Amin - Al-Bab Al-Sharqi - Al-Firdaws - Al-Zahra neighborhood - Buratha - the White Palace - the General Secretariat of the Council of Ministers - the Arab neighborhood - Al-Amel neighborhood - Knowledge - Seven Palaces - Freedom - Cities - Railways) not to receive any requests related to the transactions of transferring ownership of Basmaya residential apartments from and to the seller and buyer, noting that the process of transferring ownership is related to the departments of the Investment Authority exclusively and has nothing to do with the bank and among its conditions and legal controls is full payment. The amount of the apartment is 100 percent.

 

The head of the Iraqi National Investment Commission had directed to stop promoting the transactions of transferring ownership of residential apartments, except on the condition that the full amount of the apartment is paid by 100%.