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The Central Bank concerns Shafak News with details of "real estate and housing" loans and interest rates
Shafaq News/ The Deputy Governor of the Central Bank of Iraq, Ammar Hamad, revealed on Tuesday the details of the financial loans of the Real Estate Bank and the Housing Fund.
Hamad told Shafaq News Agency, "The Central Bank has launched initiatives since 2015 and continues until now, and it started with an amount of 6 trillion dinars and now it has become more than 18 trillion dinars granted through government and private banks," explaining that "what is currently spent from it is more than 9 trillion. dinars out of the total allocated amount.
He pointed out that "the real estate bank has been allocated 5 trillion dinars to grant loans to citizens to purchase housing units in amounts amounting to 150 million dinars and for a period of 20 years without interest, but only an administrative commission of 5% paid for one time."
Hamad added, "The Housing Fund has also been allocated an amount of 5 trillion dinars to grant loans to citizens to build residential homes, and the value of a single loan does not exceed 75 million dinars and also for a period of 20 years without interest, but an administrative commission paid only once."
Hamad explained that "the initiatives of the Central Bank funded many small, medium and large projects, some of which exceeded the amount of one billion dinars in financing," noting that "the loans achieved an increase in the number of projects and the employment of labor."
He continued, "The interest rates on loans from the initiatives of the Central Bank of Iraq vary according to the type of project," noting that "the interest rates on the initiatives of the Central Bank are much lower than those granted by banks from the deposits that they attract."
He concluded by saying, "The Central Bank also launched the initiative of soft loans in the amount of 15 million dinars for a period of 5 years without interest for employees whose total salary does not exceed one million dinars."
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Hamad told Shafaq News Agency, "The Central Bank has launched initiatives since 2015 and continues until now, and it started with an amount of 6 trillion dinars and now it has become more than 18 trillion dinars granted through government and private banks," explaining that "what is currently spent from it is more than 9 trillion. dinars out of the total allocated amount.
He pointed out that "the real estate bank has been allocated 5 trillion dinars to grant loans to citizens to purchase housing units in amounts amounting to 150 million dinars and for a period of 20 years without interest, but only an administrative commission of 5% paid for one time."
Hamad added, "The Housing Fund has also been allocated an amount of 5 trillion dinars to grant loans to citizens to build residential homes, and the value of a single loan does not exceed 75 million dinars and also for a period of 20 years without interest, but an administrative commission paid only once."
Hamad explained that "the initiatives of the Central Bank funded many small, medium and large projects, some of which exceeded the amount of one billion dinars in financing," noting that "the loans achieved an increase in the number of projects and the employment of labor."
He continued, "The interest rates on loans from the initiatives of the Central Bank of Iraq vary according to the type of project," noting that "the interest rates on the initiatives of the Central Bank are much lower than those granted by banks from the deposits that they attract."
He concluded by saying, "The Central Bank also launched the initiative of soft loans in the amount of 15 million dinars for a period of 5 years without interest for employees whose total salary does not exceed one million dinars."
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