Views 63 viewsBAGHDAD / SNG – Ministry of Justice announced the special loans, industrial, agricultural and residential projects) instructions, and included lending conditions and the adoption of the deliberative meeting the recommendations of the assurances given by the Iraqi banks.
The flags of the Ministry of Justice in a press statement that “the Ministry of Finance, to ensure the decisions of the crisis cell in its meeting held on (27.06.2016), the text of the following:
(A) approve the work plan and to require specialized banks and the adoption of the plan prepared by the Higher Committee for loans CBI.
(B) adoption of the assurances given by the Iraqi banks deliberative meeting’s recommendations.
1. The Ministry of Finance, represented by its subsidiary banks and real estate registration department to take precautionary measures to ensure the lack of any kind of manipulation.
2. Adoption of the force 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 to residential property that does not exceed the estimated value of any aBOUT prices prevailing in the market, estimate time and 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.
3. The Bank on request additional collateral if the need arises, according to the rules of procedure for each bank and the validity of the Board of Directors.
The resolution also included many of the points that will help facilitate the procedures in this regard and checking on lending mechanisms to keep public money and so the largest number of entrepreneurs from the funds allocated for this purpose benefit.