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Al-Rafidain announces that the Borrower will be required to make life insurance at the National Insurance Company
economy Since 2017-06-07 at 12:42 (Baghdad time)
Baghdad Mawazine News
Al-Rafidain Bank announced on Wednesday that the borrower is required to make life insurance at the National Insurance Company.
The bank's media office said in a statement received by Mawazine News that "one of the terms of granting loans to citizens amounting to 50 million dinars for the purposes of construction is to insure his life with the National Insurance Company in favor of the bank and prove this in the loan contract and under the directions communicated by the General Administration Of the bank, in addition to the organization of a special contract between the bank and the citizen under the loan contract and a stamp fee is paid according to legal regulations.
"The ownership of the property or any legal action can not be transferred until all the obligations have been paid to the bank or approval has been obtained," the statement said.
He pointed out that "the borrower has to use the loan for the purpose given to him and in case of default, the loan is considered to be due."
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economy Since 2017-06-07 at 12:42 (Baghdad time)
Baghdad Mawazine News
Al-Rafidain Bank announced on Wednesday that the borrower is required to make life insurance at the National Insurance Company.
The bank's media office said in a statement received by Mawazine News that "one of the terms of granting loans to citizens amounting to 50 million dinars for the purposes of construction is to insure his life with the National Insurance Company in favor of the bank and prove this in the loan contract and under the directions communicated by the General Administration Of the bank, in addition to the organization of a special contract between the bank and the citizen under the loan contract and a stamp fee is paid according to legal regulations.
"The ownership of the property or any legal action can not be transferred until all the obligations have been paid to the bank or approval has been obtained," the statement said.
He pointed out that "the borrower has to use the loan for the purpose given to him and in case of default, the loan is considered to be due."
[You must be registered and logged in to see this link.]
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