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Housing Fund: 1 trillion dinars additional loans to citizens
Economy News - Baghdad
The Housing Fund has allocated an additional one trillion dinars this year as loans to citizens as part of the government's housing reform package.
`` The Fund has taken several measures to speed up the completion of transactions of citizens wishing to obtain loans by reducing administrative and routine procedures, which enabled the Fund to complete the transaction by no more than a week, '' said Sabar Al-Saadi, general manager of the fund.
He added, "An additional trillion dinars has been allocated to the fund as part of the reform package launched by the Council of Ministers." And raise the conflict between laws, as well as reduce the interest or administrative fees on the loan to one percent, with the increase of installments from 15 to 20 years. "
Al-Saadi said that "the Fund has granted during the period from last August until now, loans amounting to 32 billion dinars, in addition to the completion of all transactions slowed since last year," noting that "the Fund grants amounts up to 700 million dinars in loans per day for all provinces , Because of the simplification of the grant procedure. "
The fund manager revealed that his department has obtained the approval to solve the problem (the communal king) that if the plot of land is registered with two people, the loan is granted to two people and not to one as it was in the past, which facilitated the lending process for all citizens.
He announced that the Fund has another important trend, is to grant loans to residential investment complexes in Baghdad, including (Iraq Gate) and (white hands) and (Basmaya) housing in addition to other loans in the provinces, pointing out that the bank is granting a loan of 50 billion dinars in three installments To the investor for the citizen's access to the housing unit whatever the area.
Al-Saadi said that the capital of the Fund began in 2011 after the legislation of the law of 300 billion dinars, but that under the Supreme Initiative for loans launched by the Central Bank of Iraq in 2018, the amount increased to one trillion and 350 billion dinars, revealing the disbursement of the amount of 950 billion dinars so far, while going to be spent Part of the remaining amount of the liberated areas and the other for lending to investment residential complexes.
On the future plan of the Fund, the Director of the Housing Fund warned that it depends on increasing the number of land for citizens by the state to provide the largest number of loans, noting that if the government succeeds in changing the sex of land from agricultural to residential according to the decisions of the Council of Ministers, it will increase the value of the loan and reduce the land area He expected the number of units provided by the bank to 350 thousand housing units annually.
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