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[size=36]The Real Estate Bank unveils a new initiative to support citizens by purchasing housing units[/size]
Economy | 11:50 - 10/12/2023
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Mawazine News - Baghdad
The Real Estate Bank announced today, Thursday, that the Central Bank’s initiative to housing the poor classes has achieved great success, while revealing a new initiative to support citizens by purchasing housing units.
The bank’s general manager, Abbas Shihab Ahmed, said in a statement followed by Mawazine News, “The Central Bank of Iraq (real estate) initiative, which includes supporting citizens from the poor and middle classes, including those with limited income, to find suitable housing, contributes to solving a small part of the housing problem.” It achieved very great success during the previous years and the current year with a 100 percent completion rate,” noting that “the real estate initiative’s funds are estimated in total at (5 trillion dinars) for the years 2021, 2022, and 2023.”
He added, "The Central Bank continues to support and finance citizens to purchase housing units through a new initiative of (recovered funds) in accordance with new instructions," noting that "this is done by allocating weekly payments to the Real Estate Bank, which in turn sends these financial transfers to all governorates of Iraq." ".
He stated that “the directives of the Prime Minister, Muhammad Shiaa Al-Sudani, were adhered to and implemented by the Real Estate Bank and the Central Bank of Iraq through:
A. Transactions were promoted and organized in Al-Muthanna Governorate immediately after the Prime Minister’s directive was issued and before the financial transfer was received from the Central Bank to speed up the procedures.”
B. Sending the money transfer to the Real Estate Bank branch in Muthanna Governorate immediately upon receipt from the Central Bank of Iraq.
C. As a result of sending the transfer mentioned in the previous paragraph, the funds are still available in the Real Estate Bank branch/Muthanna Governorate, and the branch is still continuing to finance and grant citizens housing loans and organize their transactions without stopping.
Dr . A statistic was prepared for citizens who want to buy housing units in Muthanna Governorate and sent to the Central Bank of Iraq to request additional allocation to the governorate.
He stated that “based on the decision of the Board of Directors of the Real Estate Bank in the previous session and the directives of His Excellency the Governor of the Central Bank of Iraq, the interests of the Real Estate Bank were zeroed (which were not applied to any citizen) and the previous instructions were followed,” pointing out that “the Real Estate Bank sent a letter to the bank.” The Central Bank requested amending the real estate initiative’s lending contract to be 20 years instead of 15 years, and we are now awaiting the Central Bank’s answer on the matter.”
The bank called for "accuracy in conveying information and sending inquiries to the concerned authorities before publishing it to avoid confusing a national project that has contributed and continues to finance approximately 50,000 housing units for Iraqi families."
The Real Estate Bank announced today, Thursday, that the Central Bank’s initiative to housing the poor classes has achieved great success, while revealing a new initiative to support citizens by purchasing housing units.
The bank’s general manager, Abbas Shihab Ahmed, said in a statement followed by Mawazine News, “The Central Bank of Iraq (real estate) initiative, which includes supporting citizens from the poor and middle classes, including those with limited income, to find suitable housing, contributes to solving a small part of the housing problem.” It achieved very great success during the previous years and the current year with a 100 percent completion rate,” noting that “the real estate initiative’s funds are estimated in total at (5 trillion dinars) for the years 2021, 2022, and 2023.”
He added, "The Central Bank continues to support and finance citizens to purchase housing units through a new initiative of (recovered funds) in accordance with new instructions," noting that "this is done by allocating weekly payments to the Real Estate Bank, which in turn sends these financial transfers to all governorates of Iraq." ".
He stated that “the directives of the Prime Minister, Muhammad Shiaa Al-Sudani, were adhered to and implemented by the Real Estate Bank and the Central Bank of Iraq through:
A. Transactions were promoted and organized in Al-Muthanna Governorate immediately after the Prime Minister’s directive was issued and before the financial transfer was received from the Central Bank to speed up the procedures.”
B. Sending the money transfer to the Real Estate Bank branch in Muthanna Governorate immediately upon receipt from the Central Bank of Iraq.
C. As a result of sending the transfer mentioned in the previous paragraph, the funds are still available in the Real Estate Bank branch/Muthanna Governorate, and the branch is still continuing to finance and grant citizens housing loans and organize their transactions without stopping.
Dr . A statistic was prepared for citizens who want to buy housing units in Muthanna Governorate and sent to the Central Bank of Iraq to request additional allocation to the governorate.
He stated that “based on the decision of the Board of Directors of the Real Estate Bank in the previous session and the directives of His Excellency the Governor of the Central Bank of Iraq, the interests of the Real Estate Bank were zeroed (which were not applied to any citizen) and the previous instructions were followed,” pointing out that “the Real Estate Bank sent a letter to the bank.” The Central Bank requested amending the real estate initiative’s lending contract to be 20 years instead of 15 years, and we are now awaiting the Central Bank’s answer on the matter.”
The bank called for "accuracy in conveying information and sending inquiries to the concerned authorities before publishing it to avoid confusing a national project that has contributed and continues to finance approximately 50,000 housing units for Iraqi families."
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