Determine the date for launching the electronic application for Housing Fund loans

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Determine the date for launching the electronic application for Housing Fund loans

Today, 10:01

 

Al-Ghad Press / Baghdad

The Ministry of Construction, Housing and Public Municipalities intends to launch electronic application for Housing Fund loans early next week, after stopping it following the exhaustion of the amounts allocated to it.

The official newspaper quoted the Ministry’s official spokesman, Nabil Al-Saffar, as saying, “The Ministry’s Housing Fund grants loans according to the financial liquidity available to it by approving the payments made by borrowers, but the Fund has exhausted all the loan amounts allocated to it, amounting to two trillion dinars, in addition to... The Central Bank’s initiative to support the fund with a financial cover stopped, which led to the cessation of granting loans during the past period.” He stressed that "the bank will launch, early next week, the electronic application for the Fund's loans for the citizens of Baghdad and all governorates, indicating that the application will continue until the allocated quota for each governorate is exhausted, and it will be exclusively electronic through the form on the site after the required conditions and procedures are met."

 

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The Housing Fund opens electronic application for loans

 

money and business
   

Economy News _ Baghdad
Today, Sunday, the Housing Fund will begin opening electronic applications for loans at ten in the morning.

 

The Fund stated in a statement that “the application schedule included the governorates of: Baghdad, Diyala, Kirkuk, Anbar, Nineveh, and Salah al-Din, today, Sunday, 10/15/2023, while the governorates of Dhi Qar, Muthanna, and Wasit will be on Monday,

corresponding to 16/ 10/2023, and the governorates of Al-Qadisiyah, Babil, and Najaf will be on Tuesday, corresponding to 10/17/2023, while the governorates of Maysan, Karbala, and Basra will be on Wednesday, corresponding to 10/18/2023.

 

The statement called on “citizens to apply directly via the website (https://sreg.site) without going to offices or intermediaries,” stressing that “the application process is easy, simplified and flexible, and any citizen can apply easily.”

 

The Central Bank of Iraq has allocated 6 trillion dinars since 2015 to launch two initiatives for housing loans. The first is a five trillion dinar initiative that went to sectoral banks, which are industrial, agricultural, real estate, and the Housing Fund, and the one trillion dinar initiative went to private banks.

 

At the end of the year 2021, the Central Bank of Iraq decided to increase the housing initiative’s allocations to the Real Estate Bank and the Housing Fund by an amount of (2.6) trillion Iraqi dinars.

 

A number of government banks, especially Al-Rafidain and Al-Rasheed banks, compete to grant numerous and varied loans according to mechanisms and instructions that may sometimes be strict, while some citizens suffer from difficulty in obtaining these loans compared to countries of the world, where these loans are often directed towards the optimal investment for them.

 

Iraq is suffering from a stifling housing crisis due to the increase in the population of Iraq compared to the number of residential complexes, in addition to the inability of citizens with limited income to build their own housing unit due to the high cost of land and construction materials.

 

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Added 10/15/2023 - 7:59 AM

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Efforts to increase the amount of the Housing Fund loan to 75 million dinars

The first  10/16/2023

 

 

 Baghdad: Omar Abdul Latif

The Services and Reconstruction Committee in the House of Representatives seeks to increase the housing loan amounts to 75 million instead of 60 million dinars, free of interest, to help citizens build safe housing units for themselves and their families.

A member of the Services and Reconstruction Committee, Mahdia Al-Lami, said in an interview with “Al-Sabah”: “The committee received a project proposal or amendment to a legal article related to the Housing Fund, which is directly related to providing service to citizens who wish to obtain loans to build housing units.”

She added, "This fund enables citizens to apply via the Internet to obtain a loan so that there are no suspicions of corruption, provided that he has a residential plot of land, and that it falls within the specifications and standards approved by the fund, to grant the borrower completely interest-free sums, except administrative ones, for one time." Just".
Al-Lami confirmed that “the amount of the loan currently granted by the Fund is 60 million dinars,” noting that “Parliament wants to amend it and raise the price of the loan to 75 million dinars so that the citizen can apply to build a housing unit that will be safe for him and his family without the need to arrange other debts to complete that unit.” ".
She explained that "the committee hosted the Director General of the Housing Fund and the Directors General of Baghdad Municipalities in the Ministry and they talked about this issue and an appropriate report was submitted that will be presented to the House of Representatives, in preparation for voting on the article in accordance with the constants approved by the executive authorities."

It is noteworthy that the Housing Fund opened the door to applying for loans yesterday, Sunday, directly through the designated website, within the governorate division table and announced by the same institution.

Edited by: Wael Al-Maluk