[size=45]The Association of Private Banks announces the terms of the 100 million dinars loan for citizens
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The Iraqi Banks Association announced, on Wednesday, the conditions for housing loans to citizens, which amount to 100 million dinars.
The Executive Director of the Association, Ali Tariq, said in a statement that “Yazidi 24” received a copy of it, that “private banks grant citizens 100 million dinars housing loans with a diminishing interest of 4% within the one trillion initiative launched by the Central Bank of Iraq,” indicating that “ A citizen has the right to take the highest amount, which is 100 million dinars or less, according to his needs, in addition to that the interest should not exceed 4%, which is diminishing.
He explained that "the employee is entitled to buy real estate in residential neighborhoods or residential investment complexes, while the non-employee has one option, which is to buy the property in residential investment complexes," indicating that "the housing complex loan requires that there be an agreement between the bank and the residential complex."
He pointed out that "interest is calculated for the date of repayment of the loan and it is not deducted."
He stressed that "the initiative will contribute to solving the housing crisis in the country."