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Economy News / Baghdad
Today, Sunday, the Housing Fund revealed that 24 thousand loan transactions were completed during 2022, at a value of 930 billion dinars, while revealing a move to settle the bank guarantee.
The Deputy Director General of the Fund, Hussein Abdul Ali, said in a statement to the Iraqi News Agency (INA), that "the Fund has plans until 2024 with regard to loans for construction and housing units," stressing that "the money is available with the bank by granting loans."
He added, "The Fund granted 24,000 loan transactions during the current year and disbursed 930 billion dinars, and it may exceed one and a half trillion by the end of the year," explaining that "the next year will have funds the size of the current year's funds."
He pointed out that "the website dedicated to the Housing Fund is prepared to receive applications and is currently open to Baghdad and all provinces except the Kurdistan region," explaining that "the information is filled out to apply on the website and the barcode will reach the citizen, at the same moment the information is filled in, where an amount is allocated. by the Iraqi Housing Fund.
And he added, “One of the conditions of the loan is that the Iraqi citizen owns a plot of land, a property title, a building permit, and a permit for him to demarcate the borders by the title deed. ".
He added, "In order to ease the procedures for citizens regarding the guarantor, where he can resort to bank guarantees, such as the insurance and reinsurance company, who can carry out this task, and this takes measures to legislate or re-legislate this issue, which must take its course," noting that "the guarantor cannot be bypassed." As it depends on the law, not banking instructions, and the law cannot be violated, but we are trying to pass the bank guarantees law."
He stressed that "the employee can guarantee himself and the military also has the right to withdraw a loan, as the Fund's loans include all segments of society, whether he is an employee, earner, retired, or military."
With regard to the rise in real estate prices in Baghdad, Abdul Ali confirmed that “the investor is granted the land for free and sells the housing units at high prices, and the Investment Authority must check the price per square meter for the housing unit,” noting that “the investor withdraws a loan from the Housing Bank in return for a 5% commission, which is paid from Before the citizen, this is a big problem that must be solved.”
He continued, "The real estate bank and the Supreme Committee supervising the loans of the Central Bank and the Investment Authority are concerned with the issue of the high prices of real estate in Baghdad," stressing that "the Fund's loans are only for construction and reconstruction purposes, and we have nothing to do with the purchase of housing units."
He concluded by saying, "With regard to adding construction, we give approximately 65,000,000 dinars, as 500,000 dinars are given for each square meter, including the addition of construction."
Added 08/21/2022 - 9:33 PM
Update 08/22/22 - 12:05 PM
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