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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The Housing Fund clarifies about the 60 million dinars loan

    Rocky
    Rocky
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    The Housing Fund clarifies about the 60 million dinars loan Empty The Housing Fund clarifies about the 60 million dinars loan

    Post by Rocky Mon 17 Apr 2023, 10:42 am

    [size=30]The Housing Fund clarifies about the 60 million dinars loan
    [ltr]2023.04.17 - 17:28[/ltr]
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    Baghdad - people  
    The Housing Fund revealed, on Monday, the reasons for the increase in the loan amount to 60 million dinars, while indicating that it is interest-free and granted for construction purposes only, and efforts are being made to open branches throughout Iraq.  
      
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    The director of the Planning Department in the Housing Fund, Ahmed Hashim Al-Nuaimi, said in a statement to the official agency, followed by “NAS”, (April 17, 2023), that “the loan amount, according to Fund Law 32 of 2011, amounts to 35 million in Baghdad and 30 million in the governorates,” indicating That "economic conditions and high prices led to the amendment of the law in 2018 to reach 50 million per loan."  
      
    He added, "The current high prices and the conditions the country is going through, as well as the difference in the amount of the loan in Baghdad and the provinces, the approval of the Council of Ministers was obtained last week to standardize the amount to reach 60 million per loan in Baghdad and the provinces."  
      
    He pointed out, "The housing fund loan differs from the Central Bank's initiative, as according to the housing fund law, the loan is interest-free, but there are administrative charges for the purpose of covering employee expenses, transportation fees, and other disbursements."  
      
    He explained, "The Housing Fund is a self-financing department and does not have grants from the state, and therefore the deducted funds are spent on employees and buildings," noting "the development of new buildings and the purchase of plots of land from the governorates."  
      
    He stressed, "The volume of work is constantly expanding, and it is hoped to open branches of the fund in all parts of Iraq," adding, "The housing fund does not fully support the construction process and it forms part of the construction, as the price of building one square meter in the Iraqi market has reached 350 thousand." Dinars, and therefore the loan amount of 60 million can build about 170 square meters.  
      
    He continued, "The housing fund is not included in the purchase of units, as it is outside its work and the law does not allow purchase, but only construction."  
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