Al-Nahrain launches loans to college students, newlyweds and buyers of the role
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Al-Nahrain Islamic Bank of the Ministry of Finance announced on Monday the adoption of a new package of banking facilities, including the purchase of housing and cars and the establishment of small projects, revealing the launch of funding for students of civil colleges and those wishing to perform Umrah.
The Director of the Bank of the Ministry of Finance, Mohammed Samir in an interview with the newspaper "morning" and the official "Economic News", "The Board of Directors of the Bank a number of procedures related to the mechanism of granting funds (loans) to address them in order to benefit the largest segment of citizens, The sponsor and the duration of payment and interest, "asserting" issuing new instructions relating to the purchase of housing, cars and small projects. "
He explained that "the new instructions allowed the employee who wants to buy a housing house worth not more than 75 million dinars, only one civil sponsor instead of two, while keeping the sponsors if the amount of Murabaha range from 75 to 150 million dinars, Murabaha to 15 years instead of 10, as well as the choice of the beneficiary repayment period as far as possible with a period not exceeding 15 years. "
He added that "Murabaha (interest) was also adopted 4 percent annually from the remaining amount, as opposed to what was previously applied, which is 8.3 for the entire amount. The employee was also allowed to buy his first degree home or brother, sister, father, son, mother and father down To the fourth degree, as a result of the independence of financial disclosure and not inconsistent with the laws, except for the purchase of the husband from his wife and vice versa.
He added that "the instructions to grant funding for the purchase of a residential house provides to bring the title of the property from the seller to ensure the non-custody and validity of the issuance, as well as the sponsor of the staff to start promoting the treatment and then the price of the house is estimated by a specialized committee includes its members representatives of the bank and real estate registration, The stage of monitoring the financial allocation, "noting that" After that, the stage of payment of the beneficiary 15 per cent of the amount of the property to the seller and then the stage of opening the statement in the Department of Real Estate Registration and review of the tax and municipal departments and up to the acknowledgment and waiver to receive the seller the remaining 85 percent Of the price of the property, for the beneficiary to place a reservation signal in favor of the bank until the payment of the installments that have been paid.
Samir revealed that "near the launch of funding for students of private colleges in the amount of three million dinars are paid during the academic year on a monthly basis, with the possibility of renewal for the next academic year to ensure the bank to pay tuition fees during the bachelor's degree."
He pointed out that "the current period is waiting for official approvals for the launch of funds and the preparation of instructions and controls consistent with the nature of the income of the individual Iraqi." He said that "the granting of funding for those wishing to perform Umrah and for newly married, and no less than five million dinars.
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
Al-Nahrain Islamic Bank of the Ministry of Finance announced on Monday the adoption of a new package of banking facilities, including the purchase of housing and cars and the establishment of small projects, revealing the launch of funding for students of civil colleges and those wishing to perform Umrah.
The Director of the Bank of the Ministry of Finance, Mohammed Samir in an interview with the newspaper "morning" and the official "Economic News", "The Board of Directors of the Bank a number of procedures related to the mechanism of granting funds (loans) to address them in order to benefit the largest segment of citizens, The sponsor and the duration of payment and interest, "asserting" issuing new instructions relating to the purchase of housing, cars and small projects. "
He explained that "the new instructions allowed the employee who wants to buy a housing house worth not more than 75 million dinars, only one civil sponsor instead of two, while keeping the sponsors if the amount of Murabaha range from 75 to 150 million dinars, Murabaha to 15 years instead of 10, as well as the choice of the beneficiary repayment period as far as possible with a period not exceeding 15 years. "
He added that "Murabaha (interest) was also adopted 4 percent annually from the remaining amount, as opposed to what was previously applied, which is 8.3 for the entire amount. The employee was also allowed to buy his first degree home or brother, sister, father, son, mother and father down To the fourth degree, as a result of the independence of financial disclosure and not inconsistent with the laws, except for the purchase of the husband from his wife and vice versa.
He added that "the instructions to grant funding for the purchase of a residential house provides to bring the title of the property from the seller to ensure the non-custody and validity of the issuance, as well as the sponsor of the staff to start promoting the treatment and then the price of the house is estimated by a specialized committee includes its members representatives of the bank and real estate registration, The stage of monitoring the financial allocation, "noting that" After that, the stage of payment of the beneficiary 15 per cent of the amount of the property to the seller and then the stage of opening the statement in the Department of Real Estate Registration and review of the tax and municipal departments and up to the acknowledgment and waiver to receive the seller the remaining 85 percent Of the price of the property, for the beneficiary to place a reservation signal in favor of the bank until the payment of the installments that have been paid.
Samir revealed that "near the launch of funding for students of private colleges in the amount of three million dinars are paid during the academic year on a monthly basis, with the possibility of renewal for the next academic year to ensure the bank to pay tuition fees during the bachelor's degree."
He pointed out that "the current period is waiting for official approvals for the launch of funds and the preparation of instructions and controls consistent with the nature of the income of the individual Iraqi." He said that "the granting of funding for those wishing to perform Umrah and for newly married, and no less than five million dinars.
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