[size=36]With an amount of up to 150 million... Al-Nahrain Bank launches a service to purchase real estate for citizens[/size]
[You must be registered and logged in to see this link.]
state-run Al-Nahrain Islamic Bank announced, on Tuesday, the launch of the property purchase service, with an amount of up to 150 million dinars, and a period of 20 years for employees whose salaries are domiciled.
A source in the bank said, in an interview with the official newspaper, that “the controls for the real estate purchase service for the citizens whose salaries are with the bank include that the upper limit of the financing amount be 150 million dinars, and that the upper limit for the payment period is 20 years at a profit of 3% annually. Financing may not be granted for cases of sale between husband and wife".
He added, "This service provided by the bank does not require the provision of a guarantor if the amount of financing is less than (40) million dinars, but in the event of an increase in the amount than that, it requires the submission of one or two guarantors, provided that his or her net salary covers double the monthly installment." Citizens to "visit its branches to take advantage of the current accounts service."
He explained, "The instructions include filling out an application to open an account at the bank's branches, and a Know Your Customer (KYC) form is also filled out, and the customer must submit the unified card, personal documents or a valid passport, an original copy, for the purpose of creating a current account book."