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Real Estate Bank calls for an increase of its capital to 500 billion dinars

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rocky
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Real Estate Bank calls for an increase of its capital to 500 billion dinars

Post by rocky on Mon 11 Nov 2013, 2:43 am

Real Estate Bank calls for an increase of its capital to 500 billion dinars



11/10/2013 12:00 AM


Confirmed not to grant loans since 2011
Baghdad, Ahmed Abed Rabbo
called the Real Estate Bank and Ministry of Finance to increase its capital to 500 billion dinars to contribute to solving the housing crisis in the country, revealing not to grant loans to citizens since 2011.
said Associate Director of Real Estate Bank Khudair Abbas (morning) , that the bank is currently suffering poor financial liquidity and the inability to grant mortgage loans to citizens, which is attributed to the capital does not exceed 50 billion dinars, demanding that the Ministry of Finance raise it to 500 billion dinars, as well as extinguish the loan from the Rafidain Bank him.
adding that the size of the loans held by citizens currently exceeds 800 billion dinars, and the work of the Real Estate Bank is currently limited to the recovery of the money, warning of the collapse of the structure full of the bank in the event of continuing on this case and not to support the extraordinary by the Ministry of Finance.
Abbas pointed to the existence of another problem facing the Land Bank lies in the work of Housing Fund of the Ministry of Construction as the role of the Land Bank is currently calling for the competent authorities to the need to work on the integration of the Fund with the Land Bank because the latter has sufficient experience in the granting of loans and has branches scattered throughout Iraq.
, and pointed out that 45 percent of the profits of the bank Annual go to the state treasury, calling the Ministry of Finance to the need to grant full autonomy to banks in Iraq and make the issue of integration with the global banks affair for the bank's Board of Directors and not the ministry.

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