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Central Bank of Iraq, announced Tuesday, for the distribution of 500 billion dinars, housing loans to citizens, noting that the interest rate is “very low”, as pointed out that the granting of loans measures “simple.”
The general director of financial operations at the Central Bank of Iraq, Mahmoud Dagher in a press statement, said that “the Bank since the beginning of this year, took the initiative in offering a huge financing package estimated at five trillion dinars, divided between the Land Bank and the Housing Fund, as it gave each bank approximately 800 billion dinars.” , adding that “the remaining section of the industrial Bank and the agricultural Bank.”
He said Dagher, that “the Land Bank distributed 100 billion dinars, and the Housing Fund distributed 400 billion dinars in loans to citizens,” pointing out that “the loan ceiling of 50 million dinars at a rate of very low interest does not exceed 3 –4 100%, and therefore constitutes a grant element to the borrower. “
He said Dagher, that “borrowing conditions is the existence of a piece of land suitable for the construction and sponsor of the citizen who wants to withdraw the loan amount.”
And on some late citizen to receive a loan for several years, Dagher explained that “this delay can not happen unless there is a specific problem faced by the treatment of the citizen which is in arrears in receipt of the loan,” pointing out that “the granting of the loan simple measures.”
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