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[size=36]The Central Bank confirms that 4 categories of loans are included[/size]
Economy | 09:40 - 04/05/2024
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Mawazine News - Baghdad
The Central Bank of Iraq confirmed today, Friday, that the volume of its initiatives for citizens has reached 13 trillion dinars, while indicating that housing loans are continuing. It indicated that there is a continuing demand for them, pointing out that 4 categories are included.
Deputy Governor of the Central Bank, Ammar Hamad Khalaf, said, “The Real Estate Bank is currently counting and arranging previous loans and reviewing them, and then it will open the application link again,” indicating that “the Central Bank’s lending initiative exists with the presence of additional financing.”
He added, "The value of the initiative reaches a maximum of 150 million dinars," explaining that "the initiative includes 4 categories: youth, members of the security forces, employees, and retirees."
He pointed out that "many citizens have benefited from the bank's lending initiatives, and there is a continuing demand for loans."
He pointed out that "the Central Bank did not stop housing loans, but according to the monetary policy adopted by the Central Bank since last year, the total funds allocated to this type of loans were determined in smaller amounts than they were previously, as the loans existed, but the funds allocated to the Real Estate Bank were open." "To some extent in the past."
He continued, "There is a determination by the Central Bank according to the monetary basis that it deems to be in the interests of the Iraqi economy and monetary policy," noting that, "The Central Bank of Iraq, due to the circumstances that Iraq went through in 2014, launched very important initiatives for the Iraqi economy in 2015, which were... The One Trillion Initiative and another initiative through banks specializing in five trillion Iraqi dinars,” adding that “over time, the initiatives expanded and have now reached the limits of 13 trillion Iraqi dinars, where one trillion has become four trillion and more, and five trillion has become more than ten trillion.”
He pointed out that "financing was present according to the monetary policy in that period, which was called the expansionary monetary policy of the Central Bank, but after 2023, and due to economic conditions in general, the bank took a different direction in financial policy."
He stressed that “the housing sector is the one that led the initiatives compared to other sectors, such as the agricultural, tourism and industrial sectors, due to a shortage of housing units in the country, in addition to the availability of support and an interest rate of only 5% for a period of twenty years for a loan of up to 150 million dinars, as the citizen is able To buy a property with this type of loan and perhaps more.
The Central Bank of Iraq confirmed today, Friday, that the volume of its initiatives for citizens has reached 13 trillion dinars, while indicating that housing loans are continuing. It indicated that there is a continuing demand for them, pointing out that 4 categories are included.
Deputy Governor of the Central Bank, Ammar Hamad Khalaf, said, “The Real Estate Bank is currently counting and arranging previous loans and reviewing them, and then it will open the application link again,” indicating that “the Central Bank’s lending initiative exists with the presence of additional financing.”
He added, "The value of the initiative reaches a maximum of 150 million dinars," explaining that "the initiative includes 4 categories: youth, members of the security forces, employees, and retirees."
He pointed out that "many citizens have benefited from the bank's lending initiatives, and there is a continuing demand for loans."
He pointed out that "the Central Bank did not stop housing loans, but according to the monetary policy adopted by the Central Bank since last year, the total funds allocated to this type of loans were determined in smaller amounts than they were previously, as the loans existed, but the funds allocated to the Real Estate Bank were open." "To some extent in the past."
He continued, "There is a determination by the Central Bank according to the monetary basis that it deems to be in the interests of the Iraqi economy and monetary policy," noting that, "The Central Bank of Iraq, due to the circumstances that Iraq went through in 2014, launched very important initiatives for the Iraqi economy in 2015, which were... The One Trillion Initiative and another initiative through banks specializing in five trillion Iraqi dinars,” adding that “over time, the initiatives expanded and have now reached the limits of 13 trillion Iraqi dinars, where one trillion has become four trillion and more, and five trillion has become more than ten trillion.”
He pointed out that "financing was present according to the monetary policy in that period, which was called the expansionary monetary policy of the Central Bank, but after 2023, and due to economic conditions in general, the bank took a different direction in financial policy."
He stressed that “the housing sector is the one that led the initiatives compared to other sectors, such as the agricultural, tourism and industrial sectors, due to a shortage of housing units in the country, in addition to the availability of support and an interest rate of only 5% for a period of twenty years for a loan of up to 150 million dinars, as the citizen is able To buy a property with this type of loan and perhaps more.
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