Al Nahrain Bank will soon launch the residential building initiative

Al Nahrain Bank will soon launch the residential building initiative




08/8/2017 12:00 am

Baghdad / Haider al-Atari
The Islamic Bank of the two rivers of the Ministry of Finance revealed the near launch of micro-enterprise loans and work on the initiative to build the role of citizens who own residential land. He also said that the disbursement of 65 billion dinars for the purchase of homes and cars for citizens in installments since the beginning of this year until July, Procedures for granting loans
"The next few days will see the launch of loans for the implementation of small projects, as the maximum amount of the loan to 7 million and 500 thousand dinars," the bank's director Abdul Hussein al-Mundhiri said in an exclusive statement to Al-Sabah: "The bank is doing its best to implement government initiatives aimed at supporting The private sector and its revitalization.
He added that the bank has adopted a mechanism to prevent manipulation of procedures to promote loan transactions by companies and owners of fake offices, including the preparation of a form can not be falsified because it contains a thermal seal and modern specifications and sequences with delivery to the managers of bank branches exclusively to be filled by the beneficiaries.
He explained that the bank will rely on the beneficiary project to buy materials, goods and goods to ensure the benefit of the loan and the development of work. Balancing the bank said Mundhiri to the Mall of the bank a number of other sectors during the first seven months of this year, as it has been disbursed 90 percent of the allocations approved until the beginning of August this to buy the homes of citizens and the financing of small and buying modern car projects through premiums. He disclosed that the bank is in the process of adding a supplementary budget of 25 percent to accommodate the requests of citizens wishing to buy housing and cars and the implementation of small projects (development of shops), indicating that the bank has managed during the last period to solve the problem of debt owed by citizens by finding satisfactory solutions contribute to repay To mobilize them and make use of them in granting other loans. He pointed out that since the beginning of this year, the bank has allocated 40 billion dinars to buy cars for citizens in installments. The amount is expected to rise to 50 billion dinars by the end of this year, along with the disbursement of 15 billion dinars to finance the purchase of housing for citizens of the amount Which is set for this order of 20 billion dinars, attributed the reason for the allocation of these large amounts to buy cars to the speed of completion of purchase transactions and the short period of payment and achieve the profits on which the bank depends on the completion of its work and the payment of salaries of employees to adopt the system of self-financing. The electronic query system and Al-Manzari pointed to the bank's direct electronic mail system in cooperation with the Central Bank to ensure that borrowers or guarantors did not receive an advance or loan from any government bank in order to ensure the payment of premiums easily, stressing that this measure reduced 50% of the routine in the completion of lending transactions. A new initiative to build the residential role and noted the director of the bank to continue to buy the residential role of citizens after the submission of the title of the property to be purchased with sponsors and then visit a specialized committee comprising representatives of real estate registration and the bank to determine the price of the property, in addition to paying the beneficiary 15 percent of the value of the property as a deposit (deposit) The seller shall receive the 85% of the remaining amount within a period not exceeding 3 months, followed by the stage of placing a check mark on the property in favor of the bank until the payment of the beneficiary's installments. He explained that the amount of the purchase of the property does not exceed 150 million dinars, which will be paid within a period of 120 months, ie 10 years and interest at 8, 3 per year, with the possibility of allowing the beneficiary three months if the failure to pay for convincing reasons.

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