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The Central Bank launches a package of loans related to the housing sector
Economy News - Baghdad
The Central Bank of Iraq, Al-Atait, announced the launch of a package of loans to citizens and employees wishing to buy housing units throughout Iraq.
"In order to alleviate the effects of the housing crisis that the country is going through, the Central Bank of Iraq decided to continue its initiative to support the liquidity of the housing sector (the Housing Fund and the Real Estate Bank) to lend to citizens and employees wishing to buy housing units throughout Iraq," the Central Bank said in a statement. ".
He emphasized that the introduction ports are divided into two types, the first: Housing Fund loans that amount to (75) million dinars to build housing units with an area of not less than (100) square meters or add building in Baghdad and provincial centers, and loans of (60) million dinars in the districts of the capital Baghdad and (50) million dinars outside The centers of the rest of the governorates, and loans in the amount of (75) million dinars for the purchase of housing units in residential investment complexes that have already been approved for financing from the fund. 20) years, to facilitate the value of the monthly installment.
The statement added that the second type of loans is “real estate bank loans at an amount of (100) million dinars to buy housing units outside investment housing complexes with an area of not less than (100) square meters, and these loans will have a diminishing annual interest rate of (2%) of the value of the loan and the duration Repayment not exceeding (20) years. "
In addition to "loans in the amount of (125) million dinars for the purchase of housing units in investment housing complexes, these loans will be interest-free, provided that a one-time administrative commission of (5%) is deducted from the value of the loan, with a repayment period not exceeding (20) years."
In his statement, the Central Bank referred to another initiative "by granting loans to employees whose salaries are settled in (governmental and private banks) at an amount of (15) million dinars, with a one-off commission of 4% of the loan value, with a payment period of 5 years."
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