Al-Rafidain announces that retirees are excluded from submitting the real estate document

by **claud39** Mon Nov 02, 2020 9:45 am

Al-Rafidain announces that retirees are excluded from submitting the real estate document

11/02/2020

Economy News _ Baghdad

Al-Rafidain Bank exempted the two retired borrowers from submitting a real estate bond and granted them letters of no objection to promote their retirement transactions.

The bank’s media office said in a statement received by “Al-Eqtisad News”, that “the bank has exempted retired borrowers from the requirement of submitting a real estate bond to give them letters of no objection to promote their pension transactions in the event that his sponsor provides support to the bank by maintaining his guarantee for the retired.”

He added, "The new instructions require the assignee to submit an undertaking to pay the remaining amount owed by him from the installments of the end of service gratuity."

The statement indicated that "in the event that the loan becomes without a guarantor for any reason, the borrower provides an alternative sponsor, provided that he is an employee whose salary is exclusively with the bank."

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