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Agricultural Bank issues clarification on employee loans
September 29, 2021
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Agricultural Bank issues clarification on employee loans
September 29, 2021
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Cancellation of the requirement to submit a real estate deed to employees (Facebook)
Ultra Iraq - Editorial Team
The Agricultural Cooperative Bank announced the abolition of the requirement to provide a real estate bond for employees whose salaries are domiciled.
And the bank’s media office said in a statement, “Ultra Iraq” received a copy of it, that “the work has been canceled on the condition that a real estate bond is submitted for employee loans that dot their salaries.”
He pointed out that "to maintain the indication of seizure or insurance mortgage placed on real estate guarantees provided to document the amounts of housing loans granted to employees of non-domestic state departments, their salaries, and to continue to collect insurance premiums against the risk of death, according to the instructions of the financial department, and to submit a real estate deed registered in the name of the borrower within a period not exceeding (6) months from the date of disbursing the loan, otherwise the interest becomes 10% annually starting from the seventh installment.
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