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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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    Al-Emaar clarifies the Central Bank’s allocations for Housing Fund loans

    Rocky
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    • Post n°1

    Al-Emaar clarifies the Central Bank’s allocations for Housing Fund loans Empty Al-Emaar clarifies the Central Bank’s allocations for Housing Fund loans

    Post by Rocky Sun 02 Jun 2024, 5:10 am

    Al-Emaar clarifies the Central Bank’s allocations for Housing Fund loans

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    Economy News _ Baghdad
    Today, Sunday, the Ministry of Construction and Housing issued a clarification regarding the Central Bank’s allocations to Housing Fund loans.
    Ministry spokesman Nabil Al-Saffar said, in an interview with the Iraqi News Agency, followed by “Al-Iqtisad News,” that “the Central Bank announced financing the Housing Fund and the Real Estate Bank with three trillion dinars in order to provide housing loans,” indicating that “it was announced that the repayment period for the amounts owed would be extended.” The Fund was granting it as part of the initiative to grant housing loans.”
    He added, "The amounts recovered from citizens during payment will be cash flow from the Fund," pointing out that "the annual installments due from the Fund and the Real Estate Bank have been postponed for a period of 5 years."
    The Central Bank had issued a statement regarding housing loans for citizens, which stated: “Based on the strategic vision and main objectives of the Central Bank of Iraq in working to promote sustainable development, prosperity and achieving well-being for citizens, the most prominent of which is the provision of adequate housing, and in a way that contributes to the growth of urban expansion and urban development.” The Board of Directors of the Central Bank of Iraq decided a number of decisions that would provide additional amounts amounting to about (3) trillion dinars, which in turn will be reflected in responding to housing borrowing requests by citizens through (the Real Estate Bank and the Iraqi Housing Fund) in a facilitating manner, in support of the directives of government in this regard.
    He added, "The Central Bank of Iraq directed the management of both the Real Estate Bank and the Iraqi Housing Fund to develop a well-thought-out plan for housing lending, through which it will receive applications from citizens wishing to borrow, in light of the government's directives, and in accordance with the contexts and regulations in force in each of them, taking into account priorities." In this way, it achieves the principle of justice among citizens, especially transactions completed or under completion.”
    He continued, "At the same time, the Board of Directors of the Central Bank of Iraq called on the government and the House of Representatives to provide support to the Real Estate Bank and the Iraqi Housing Fund, by allocating an annual amount within the federal general budget to enhance the capital of each of them in order to provide the opportunity for them to implement their policy of granting housing loans to citizens." .


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