The Central Bank of Iraq grants its employees housing loans of up to 300 million dinars
The Central Bank of Iraq grants its employees housing loans of up to 300 million dinars
2026-10-28
Shafaq News – Baghdad
The Board of Directors of the Central Bank of Iraq approved a new mechanism for housing finance allocated to bank employees, which includes setting financing ceilings and repayment periods in a way that contributes to easing the financial burdens on employees and enhancing their opportunities to obtain housing finance.
According to Resolution No. (164) of 2026, issued based on the deliberations of the Board of Directors, the maximum limit for housing finance for special grades and directors of directorates was set at (500) million dinars, while the maximum limit for financing employees was (300) million dinars.
The mechanism included setting the repayment period at (25) years, with (400) monthly payments, taking into account the employee’s financial entitlements with the bank when determining the amount of financing, provided that it does not exceed the ceiling set for each category.
The decision also stipulated the adoption of the employee’s various income components, including the basic salary, additional salary, monthly incentive, and annual incentive, with the aim of reducing the financial burden on him, while rescheduling the financing installments every two years from the date of granting the financing.
The mechanism also included setting the rate of acceleration in repayment from the financial pool at (6%), as well as closing the previous financing schedule for accounting purposes after fixing the remaining balance and creating a new schedule in accordance with the approved controls.
The decision confirmed that the repayment of housing finance dues granted to employees of the Central Bank of Iraq shall be from their various monthly income sources received from the bank. It also authorized the Governor of the Bank to approve the housing finance mechanism submitted by the Accounting Department.
This step comes within the framework of regulating housing finance procedures and developing its mechanisms in a way that takes into account the financial capabilities of employees and contributes to supporting living stability and enhancing housing ownership opportunities.
shafaq.com
