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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


    Central Bank: Weak financing made it difficult for citizens to obtain housing initiative loans

    Rocky
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    • Post n°1

    Central Bank: Weak financing made it difficult for citizens to obtain housing initiative loans Empty Central Bank: Weak financing made it difficult for citizens to obtain housing initiative loans

    Post by Rocky Sun 24 Mar 2024, 5:30 am

    Central Bank: Weak financing made it difficult for citizens to obtain housing initiative loans

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    Economy News - Baghdad
    The Central Bank affirmed its endeavor to provide support to achieve stability in the general level of prices and reduce the gap between the official dollar exchange rate and the parallel market, while indicating that weak financing led to the difficulty of citizens obtaining loans through the housing initiative.
    The bank’s deputy governor, Ammar Hamad Khalaf, said, “The bank continues to provide dollars to banks and individuals at an amount of $3,000 per traveler during one month,” noting that “there are other channels for citizens who need foreign currency, by providing electronic payment cards, which are available and can be accessed by any citizen.” Obtaining them if the appropriate conditions are met, and therefore these cards can be used for travel or any service from abroad at the official exchange rate,” according to the official newspaper.
    He stated that “Iraq has large reserves exceeding 100 billion dollars and the ability to provide foreign currency to any beneficiary within the country, whether a citizen or a company, and all of these are sources of power possessed by the Central Bank,” adding that “the gap occurring in the market at the present time is due to the exchange rate of speculators and the request for financing transactions.” Illegal".
    Khalaf explained that “the dollar is available at the official exchange rate for official transactions, to a very large extent, and with tools through external financing or electronic payment tools provided by the Central Bank,” stressing that “reducing the Central Bank’s initiative for housing loans has led to the difficulty of citizens obtaining them.”
    He pointed out 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,” adding that “it is the duty of banks to mobilize individuals’ savings and provide financing for them to purchase housing units or other needs of citizens.” .
    Khalaf noted “the necessity of focusing on banks that play their role as financial intermediaries between savers and borrowers,” noting 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 in them, offset by limited allocations in this area.” .


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