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[size=35][size=35]“Whoever has money, let him lend it to his brother.” The Central Bank outlines the fate of housing loan initiatives[/size]
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03-24-2024 | 02:02
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Al-Sumaria News - Local
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Deputy Governor of the Bank, Ammar Hamad Khalaf, said that the Central Bank had previously reduced the amounts for its housing initiative in accordance with its policy because it controls the monetary supply, as it is an initiative for a specific period and not continuous, indicating that reducing the Central Bank’s initiative for housing loans led to the difficulty of citizens obtaining them. .
He explained that it is the duty of banks to mobilize individuals' savings and provide financing for them to purchase housing units or other citizens' needs, indicating the need to focus on banks that play their role as financial intermediaries between savers and borrowers.
He stressed that there is difficulty in obtaining initiative funds from citizens due to the large demand on their part to purchase housing units as a result of the shortage, which is offset by limited allocations in this area.
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03-24-2024 | 02:02
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Al-Sumaria News - Local
The Central Bank of Iraq confirmed that reducing its financing for housing loans through banks came about because it is an initiative for a certain period and not continuous, considering that what should happen is for banks to play the role of mediator between savers and borrowers, that is, take money from savers and give it to loan applicants. .
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0 seconds of 0 secondsVolume 0%
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Deputy Governor of the Bank, Ammar Hamad Khalaf, said that the Central Bank had previously reduced the amounts for its housing initiative in accordance with its policy because it controls the monetary supply, as it is an initiative for a specific period and not continuous, indicating that reducing the Central Bank’s initiative for housing loans led to the difficulty of citizens obtaining them. .
He explained that it is the duty of banks to mobilize individuals' savings and provide financing for them to purchase housing units or other citizens' needs, indicating the need to focus on banks that play their role as financial intermediaries between savers and borrowers.
He stressed that there is difficulty in obtaining initiative funds from citizens due to the large demand on their part to purchase housing units as a result of the shortage, which is offset by limited allocations in this area.
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