Housing Fund: stopped granting loans to borrowers in repayment of reluctance by officials

A spokeswoman attributed the Housing Fund, on Wednesday, the Fund stopped lending to the financial crisis and the non-payment of 40,000 beneficiaries monthly installments due.

And fund spokeswoman Nadia Khaled, in a press statement obtained by the news agency "economy" to "Fund stopped granting loans to citizens because of the financial crisis facing the country," indicating that "stop loans stemmed also from the reluctance of borrowers to pay the sums owed to the Fund.

She added that there "40,000 borrowers obliging by paying what it owes to the Fund," the laggard borrowers did not pay the monthly payment of 200 000 to the Fund for a period ranging from four months to a year ".

And she said that "resulted in the imposition of fines on the laggard takhiret raising the amount of the Fund owes borrowers to more than 48 billion dinars".

It is worth noting that the Housing Fund, established by Decree No. 11 of 2004, with a capital of 300 billion dinars to finance housing projects and enable the Iraqi people to build their housing by granting mortgage loans for this purpose.

The Cabinet had decided at its eighth regular in (May 5, 2015), lending to the Housing Fund of the Rafidain Bank and Rasheed, an amount of 100 billion dinars, to enable lending citizens for housing with legal interest Finance Ministry in coordination with the Minister of finance.