Amending the provisions for generalizing housing finance within the (The One Trillion) initiative

by **claud39** Thu Aug 27, 2020 9:21 am

August 27, 2020

Amending the provisions for generalizing housing finance within the (The One Trillion) initiative Article-159851987610601

To / the banks participating in the (One) trillion initiative ( circular )

Issue: 6/5/1376

Date: 8/26/2020

Later, with our uncles No. 5/6/471 dated 27/2/2020 on housing finance within the One Trillion initiative, and to meet the growing demand for this type of financing, the Board of Directors of this bank decided in its session numbered (123) for the year 2020 to approve the the following:

Paragraph ( 2 ) of our two uncles above was amended to make the ceiling for housing financing ( 100 ) million dinars instead of (75) million dinars, and the financing period from the same paragraph is amended to become ( 15 ) years instead of (10) years.
It shall be added to paragraph ( 3 ) of the aforementioned uncles regarding the interest rate of the bank only, and the method of calculating it shall be according to the method of ( decreasing installment ). With the survival of each of the administrative commission of the central bank, amounting to (7) per thousand, as well as the annual administrative commission of the guarantor company, amounting to (6) per thousand.

https://cbi.iq/news/view/1541

by **claud39** Thu Aug 27, 2020 9:56 am

The Central Bank of Iraq raises the ceiling for housing financing and adjusts the payment period

08/26/2020

Economy News - Baghdad

Today, Wednesday, the Central Bank of Iraq decided to amend the housing finance ceiling within the one trillion initiative, and the banks participating in this initiative .

The central bank said, in a statement, that in response to the increasing demand for housing financing, the bank decided to amend the housing finance ceiling within the one trillion initiative and the banks participating in this initiative.

The central added that the ceiling for housing financing will be 100 million dinars instead of 75 million dinars, and the financing period has been amended to 15 years instead of 10 years .

The Central Bank indicated that the decision was made in order to reduce the burden of interest installments on the citizen, so it decided that the method of calculating the interest rate of the bank participating in this financing should be according to the method of (decreasing installment), with the maintenance of each of the central bank’s administrative commission of 7 per thousand, as well as The annual administrative commission of the guarantor, amounting to 6 thousand .

https://economy-news.net/content.php?id=21620