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[ltr]Approving the recommendations of the Ministry of Justice on the industrial, agricultural and residential loans[/ltr]
[ltr][You must be registered and logged in to see this image.]BAGHDAD - Iraq Press - July 25: The Ministry ofJustice, the approval of the Cabinet crisis cell to lend to industrial, agricultural and residential projects, pointing to take over the Ministry ofFinance to "take precautionary measures to ensurethe lack of any manipulation.
He said the media ministry said in a statement, "The Prime Minister 's Office, issued based on therecommendations provided by the Ministry ofJustice instructions (lending to industrial, agricultural and residential projects), and included lending conditions and the adoption of the assurances given by the Iraqi banks deliberative meeting the recommendations."
The statement added that " the Council of Ministers face a letter to the Ministry of Finance, to ensure the decisions of the crisis cell in its meeting held on (6/27/2016) , " noting thatthe courses included " the adoption of the action plan and to require specialized banks adopting the stomach plan by the Higher Committee for loans Iraq Central Bank".
The statement noted " the adoption of the assurances given by the Iraqi banks deliberative meeting recommendations , " pointing to "take over the Ministry of Finance , represented by its subsidiary banks and real estate registration department totake precautionary measures to ensure the lack of any kind of manipulation."
And called on the Ministry of Justice , according to the statement to "adopt applicable in the departments of real estate registration controls for the purposes of determining the ownership transfer fees in the estimation of real estate, mortgage subject with the addition of 30% on the value of the land only, with respect to commercial real estate and (10%) with respect toresidential property on that does not exceed the estimated value of any property on the market price prevailing at the time ofappreciation , "referring to" the adoption of these mechanisms as collateral in connection with mortgage loans granted by all banks, and does not do any directives in conflict with these recommendations. "
The statement continued, that "for the bank on request additional collateral in the event of the need for it, according to therules of procedure for each bank and the validity of the Board of Directors , " pointing out that " the resolution contains many points that will help facilitate the procedures in this regard, and checking on lending mechanisms to keep public money and sothat the largest number of entrepreneurs from the funds allocated for this purpose will benefit. " Q ended
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