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Housing Fund: 32 thousand transactions completed without financial allocations

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Housing Fund: 32 thousand transactions completed without financial allocations

Post  claud39 on Tue Nov 27, 2018 7:29 am

http://economy-news.net/content.php?id=14514


Housing Fund: 32 thousand transactions completed without financial allocations


11/27/2018











Economy News Baghdad

The director of the housing fund, issued new instructions for the existence of 32 thousand transactions completed by citizens and the disbursement of loans because of financial circumstances.
The prime minister has earlier provided 800 billion dinars to the fund to finance about 25,000 loans.
"The lending initiative included six items, including the inclusion of all Iraqi citizens, granting the loan for the purpose of building or completing the construction for those who own an independent or common residential plot of land, " Lubna Anwar told The Economist and Business. The area of ​​100 square meters and the building area of ​​65 square meters, and that the construction should not be on agricultural land and industrial ».
"The new regulations stipulate granting loans to those wishing to buy residential units in residential investment complexes or subject to the Investment Law, which has a net area of ​​less than 65 square meters. The loan also provides for the reconstruction of destroyed housing units due to terrorist operations and as a priority, In full ».
Development Plans
Anwar pointed out the plans of the Housing Fund to develop electronic banking services and keep abreast of financial technology services. "The Housing Fund Administration, in coordination with the concerned parties, has been working on the use of electronic techniques in providing loans in order to reduce procedures and shorten the time, in addition to high coordination with programs provided by the Central Bank of Iraq To comply with risk management procedures to guarantee and recover loans from citizens. "
She explained that "the initiative of the Central Bank of Iraq and the Ministry of Finance played a role in supporting the policy of the Fund to fill the housing deficit and solve the housing crisis and increase loans and contribute with investment companies in the establishment of residential complexes to sell soft loans.
Lending to citizens
On housing projects and investment by private sector companies said Director of the Housing Fund that "there are instructions put to participate, and that the Housing Fund is to disclose the housing units that are agreed to participate in financing and be confirmed in a list with a scheme of housing units and according to the Iraqi registration documents after the completion of the structures of the units In accordance with the cash liquidity of the Fund and the population density of all governorates and the fair distribution among them, provided that the lending to residential complexes does not increase 40% of the loan plan of the Fund and does not exceed the number of units to be financed in the residential complex For one on 30 percent of the total housing units of the complex, and an excess of that is presented to the Board of Trustees for approval. "
"The Fund's main mission is to finance investment housing communities, enter into partnerships with listed companies in Iraq and investors authorized by the National Investment Authority, Lending to beneficiaries of these housing complexes, as well as the Fund's activity in granting loans to citizens to help them build decent housing through soft loans without interest. "
The Fund is expanding its scope by reviving the premium recovery process. The Fund can also invest in real estate and investors participate in the construction of residential complexes to be sold to beneficiaries with soft loans.
private sector
"The Fund's management is in contact with investment companies through the committees of the Ministry of Housing, as well as attending seminars and forums held in the Ministry of Housing or organized by other ministries and sectoral bodies in the field of investment Represented by the National Investment Authority, as well as investors through meetings with them and field visits to residential entities and facilitate the mechanism and controls to enter into the financing of those entities and contribute to the marketing of housing units.

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