Housing Fund reveals its measures to facilitate the granting of loans to citizens

Housing Fund reveals its measures to facilitate the granting of loans to citizens
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Monday 17 February 2020 - 10:15

Housing Fund reveals its measures to facilitate the granting of loans to citizens 
Baghdad - Waaa - Ali Jassim al-Sadoa - Karrar Khalil
Photo by Safaa Alwan
The Housing Fund of the Ministry of Reconstruction and Housing has revealed its measures to facilitate the granting of loans to citizens.
The fund's deputy director general, Dr. Hussein Abdul Ali al-Atabi, said during an exclusive interview with the Iraqi News Agency (AAA): "The first measures taken is the electronic application, which reached 60% of the work rate, and citizens started providing data and raising official documents on the website. "The electronic authentication process preserves privacy on the one hand and prevents extortion, manipulation, the elimination of routine procedures, and the rights of the citizen in sequence and archiving," he said.
"The fund has a plan to convert all business joints into electronic, which includes archiving, fingerprinting, instrument and disclosure," he said, noting that "the purpose of electronic disclosure is to avoid manipulation of the identification of open property."
"Among other measures is the adoption of electronic payments for the loan, through the issuance of "MasterCard and Visa Card" cards for the housing fund and can be used inside and outside Iraq," he said, noting that "the citizen can get the loan payments and pay the monthly installments for Through this card, as well as follow up the remaining installments via the link."
"The fund's plan for the current year includes the granting of 12,000 loans for the construction of housing units," he said, adding that "575 billion dinars have been allocated for the approval of individual and residential complexes, but the Ministry of Finance addressed the fund with an official letter and allocated 690 billion dollars to be included in the budget. Operational for the current year".

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Al-Atabi explained that "the Fund Law No. 32 of 2011 covered all categories of society, whether it is an employee, a earner or a military person, provided that the borrower is between 18 and 60 years of age, and there are exceptions on the condition of age, which is the prerogative of the Minister of Reconstruction and Housing or the Director General of the Fund," in accordance with the criteria of the national insurance company, which compensates the borrower in the event of his death, which exempts his family from paying the remaining premiums.
He pointed out that "the capital of the Fund when its law was passed in 2011 amounted to 1 trillion dinars, to be paid to the fund from 2012 to 2016 and by 200 billion dinars each year," he said, adding that "in 2015 the Ministry of Finance granted the Fund only 90 billion dinars, but in 2016, no amount was granted, so the total amount paid to date is 890 billion."
"The amount of the loan granted to citizens within the borders of Amanat Baghdad amounted to 50 million dinars, and outside baghdad's borders amounted to 40 million dinars, while in the provincial centers 40 million dinars and the districts and districts 35 million dinars, and the loan is granted without interest excluding administrative loads of 2 percent, and is cut off once," al-Atabi said.
Initiative loans
The Fund's Deputy Director General confirmed that the Central Bank of Iraq has granted the Fund funds for loans, called initiative loans since 2016, which amounted to 50 million dinars, which were previously interest, but since 1/10/2019 interest has been cancelled "These loans are still going on, but the loan repayment period is different from the normal loan because it lasts for 10 years with a monthly repayment rate of 430,000 dinars," he said.
He noted that "the amount previously allocated by the Central Bank amounted to 834 billion dinars," noting that "500 billion dinars and 300 billion dinars have now been allocated, which has been postponed for the time of need."
Conditions for completion of the transaction
He continued that "the stages of completion of the transaction depends on several things, the most important of which is the presence of the plot of land or the addition of construction in accordance with the conditions of granting the loan, and the bond number (25) did not pass it more than a month and a building permit not exceeding the date of its issuance of three years, as well as a map proving the borders and the sponsor, and in If all these conditions are met, the application is submitted electronically on the fund's website," he said, explaining that "the procedures for granting the loan in the first installment take one and a half months because it is linked to three departments (real estate registration, municipality, and sponsor department) for the purpose of verifying the authenticity of the documents, and the second and third payments do not exceed Two weeks."
With regard to granting the loan to one citizen in the case of common land instead of granting two borrowers the same land that was previously in place, al-Atabi explained that the fund was previously granted the loan to every citizen who owns 100 square meters, i.e. common land, but then the loan became a One loan for the commons provided that the partner provides support by not providing it on the fund loan for three years or the borrower informs his partner by publishing an advertisement in the newspaper," indicating that "the reason for this is due to the sending of a circular from the General Secretariat of the Council of the Ministry, calling on the Fund not to violate the limits of release because it distorts the age planning "In addition, it is about the terms of the building permit granted by the Baghdad secretariat," he said.
He added that "there are many facilities in this subject that do not violate the laws and controls and limits of the secretion of land, which is not less than 200 square meters in the provincial centers and 250 or 300 meters in the districts and districts," stressing that the problem is not related to the housing fund because it grants the citizen the loan if he brings his partners and abides by the controls."

Branches and distressed premiums 
 Al-Atabi said: "The Fund has 14 branches in all provinces except the Kurdistan Region, in addition to two offices concerned with the liberated areas, the first in Tal Afar and the second in Balad al-Dujail, and received borrowers from the citizens of Salah al-Din province, as well as Nineveh, Anbar and Kirkuk, and now the number of borrowers has begun It is increasing in these provinces, especially after obtaining a legitimate opinion from the jurisprudential council on the legitimacy of the loans granted by the Fund, as they are without interest and provide suppalling to the citizens as well as the facilities provided to borrowers in those areas that witnessed the battles of liberation from terrorism," he said, adding that the Fund has drawn up a plan. To address the problem of default payments in the liberated areas because the Fund's law provides for procedures if the installments are not paid for 24 months."
He explained that "one of these measures is to offer the property for sale or to address the sponsor department, and a working group has been formed in Baghdad and the provinces to follow up on this issue," stressing that "the volume of transactions is in distress up to twenty thousand transactions and amounts up to 70 billion dinars, especially in the liberated areas."
"The management of the fund, and in view of the circumstances that the citizens of these areas are going through, decided to exempt distressed borrowers in the liberated areas and for the period from 2014 to 2019 of accumulated fines, the amounts required will be combined with the remaining borrower's assets from the value of the loan," he said. The measure is aimed at relieving the citizen and not forcing him to pay the fines that he has imposed."

He added, "As for the provinces that witnessed demonstrations such as Dhi Qar and Wasit, and after the temporary closure of the branches of the Fund, an office was opened at Rafidain Bank to receive the auditors and receive transactions and grant sukuk, as well as receive the auditors from najaf provinces Ashraf, Wasit and Dhi Qar at the general headquarters in Baghdad and grant them sukuk with the exemption of borrowers in some provinces from the fines of delay for one or two months because of the circumstances that their provinces are going through," he said, adding that "the offices in those provinces have now resumed work and receive the auditors normally and that the Fund is fully committed to the procedures of integrity and granting loans." In a transparent way, the Fund has ongoing contacts with the Minister of Reconstruction and Housing and the ministry's agents, as well as the Office of Citizens Affairs and Information to perform the work clearly in order to meet the requirements of the citizen."
 Al-Atabi pointed out that "the fund is not content with individual lending, but has granted loans to residential complexes," stressing that "loans have been granted to citizens in six residential complexes in Baghdad, Diyala, Najaf al-Ashraf, Muthanna and Basra, and there are requests of up to 120 billion dinars."

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