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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    A government bank allocates 100 billion to the housing sector. Learn about the controls

    Rocky
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    A government bank allocates 100 billion to the housing sector. Learn about the controls Empty A government bank allocates 100 billion to the housing sector. Learn about the controls

    Post by Rocky Sun 18 Feb 2024, 4:33 am

    A government bank allocates 100 billion to the housing sector. Learn about the controls

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    Economy News - Baghdad
    Al-Nahrain Islamic Bank announced that it has fully adopted electronic payment systems, granting credit to the housing sector according to three axes, and supporting solar energy projects by taking advantage of the bank’s credit plan, which amounts to 100 billion dinars.
    The bank’s assistant director, Imad Rasan Hassan, said, “The credit plan has been increased to 100 billion dinars, and there is a trend towards small and medium enterprises, solar energy projects, housing units, and other projects within the bank’s plan,” according to the official newspaper.
    He added, "The credit amounts allocated to the housing sector will be directed to three axes: purchasing a housing unit or building land, as well as leasing buildings, which means that the bank will purchase buildings and rent them to the beneficiary through this service, as these services have been initiated and efforts are continuing to develop them in a way that serves the largest number of customers." .
    He stated that "the bank is moving towards providing fully electronic services in a way that is consistent with government directions, as it will provide all services through advanced electronic applications, taking advantage of modern technology approved globally."
    Hassan pointed out that "the comprehensive system that will be adopted will enable customers to obtain advanced services inside and outside the country, and will add greater transparency to financial transactions, as well as the customer knowing all his accounts at all times and financial movements with extreme accuracy."
    He continued, "Adopting electronic payment by citizens brings a benefit to the customer, which is that commissions are non-existent compared to if the amount is withdrawn in cash."
    He explained that “serious government support to develop and advance the reality of financial transactions will work to create an advanced banking sector that provides electronic services that change the reality of financial performance, make money paths known, and preserve them from all forms of manipulation, as the local labor market needs a huge volume of transactions.” He pointed out the importance of adopting Extensive educational campaigns in which all relevant institutions contribute, without exception, to guide the public to the importance of electronic payment and the benefits achieved from it.”
    Regarding the development of human resources, Hassan pointed out that “the experience approved by the bank reflected a positive image of the human resources working in the banking system, as it demonstrated their ability to significantly develop their capabilities and their mastery of the advanced technology witnessed in the financial sector in the world.”
    He noted that “the controls for financing small project murabaha include specifying the age of the financing applicant at no less than 18 years and no more than 65 years, and that the minimum financing amount is three million dinars, while the maximum limit is 20 million dinars, and that the murabaha rate is 5 percent.” The repayment period is five years, and the first installment is due 30 days after the date of purchase of the goods.
    He added, "The applicant for financing must provide one or more guarantors from state department employees, provided that his or her net salary covers twice the monthly installment and that the financing period is commensurate with the retirement age."
    Hassan stressed, “The possibility of national employees whose salaries are at the bank reviewing its branches to benefit from the property purchase service, as the controls include that the maximum financing amount be 150 million dinars with a repayment period of up to 20 years, and it does not require the provision of a guarantor if the financing amount is less than 40 million dinars.”


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