The Central Bank of Iraq issues an “important” statement regarding housing loans
The Central Bank of Iraq issues an “important” statement regarding housing loans
2024-05-31
The Central Bank of Iraq issued a statement, which it described as “important,” regarding housing loans for citizens.
The text of the statement stated, “Based on the strategic vision and main objectives of the Central Bank of Iraq in working to promote sustainable development, prosperity, and achieving well-being for citizens, the most prominent of which is the provision of adequate housing, and in a way that contributes to the growth of urban expansion and urban development, the Board of Directors of the Central Bank of Iraq decided, A number of decisions that would provide additional amounts amounting to about (3) trillion dinars will in turn be reflected in the response to housing borrowing requests by citizens through (the Real Estate Bank and the Iraqi Housing Fund) in a facilitating manner, in support of the government’s directives in this regard.”
He added, “The Central Bank of Iraq directed the management of both the Real Estate Bank and the Iraqi Housing Fund to develop a well-thought-out plan for housing lending, through which it will receive applications from citizens wishing to borrow, in light of the government’s directives and in accordance with the contexts and regulations in force in each of them, provided that priorities are taken into account in that regard.” In a way that achieves the principle of justice among citizens, especially completed or under-complemented transactions.”
The Board of Directors of the Central Bank of Iraq, according to the statement, called on “the government and the House of Representatives to provide support to the Real Estate Bank and the Iraqi Housing Fund, by allocating an annual amount within the federal general budget to enhance the capital of each of them, thus providing them with the opportunity to implement their policy of granting housing loans to citizens.”
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