Association of Private Banks: Private banks have granted more than 100 billion dinars in housing loans to citizens

by **claud39** Sat Jul 10, 2021 10:01 am

Association of Private Banks: Private banks have granted more than 100 billion dinars in housing loans to citizens

10/07/2021

Association of Private Banks: Private banks have granted more than 100 billion dinars in housing loans to citizens 928

Economy News - Baghdad

The Association of Iraqi Private Banks announced that private banks have been granted more than 100 billion dinars in housing loans within the initiative of the Central Bank, one trillion dinars .

The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, said in a press statement, that private banks contribute significantly to supporting the housing sector and easing the crisis on citizens, through soft loans amounting to 100 million dinars extending over 15 years and at a 2% decreasing interest, noting that More than 44 private banks grant loans to citizens to buy housing units .

Tariq noted that the volume of funding has currently reached more than 100 billion dinars, and there is a great demand by citizens for housing loans, pointing out that the policy of the Central Bank is supportive of citizens, as it reduced the interest on housing loans from 4% to 2% decreasing .

And he indicated that the non-employee citizen has the right to buy a housing unit in the complexes only, while the employee has the right to buy in the residential neighborhoods and investment complexes .

The Executive Director of the Association of Private Banks confirmed that private banks are working according to the general approach of the state in ending the housing crisis by increasing housing lending .

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