"Eye of Iraq," published the new Housing Fund loans Details 3/9
"Eye of Iraq," published the new Housing Fund loans Details
Wednesday 9 March 2016 | 15:28
BAGHDAD / .. honest Mr. Prime Minister Haider al-Abadi, Wednesday, on the mechanics of lending for housing fund loans, the central bank's five trillion Iraqi dinars.
Information Office of Ebadi said in a statement: "Ein Iraq News" received a copy of it, he "According to the mechanism of the distribution will be loans distributed to the provinces to adopt a standard percentage of population (80%) and standard degree of poverty (20%) for each province," adding that "the amount of each loan no more than 50 million paid to the beneficiary in two installments, the interest rate (2%) after one year grace one of the date of receipt of each batch. "
He added that "these loans are granted for the purposes of construction and the addition of construction and grants as well as for those wishing to purchase residential units in investment complexes, as he gives to rebuild housing units destroyed due to terrorist operations," explaining that "the lending period is 10 years be restored monthly installments equal within the prescribed period.
The statement continued that "the mechanics of lending to the Housing Fund and the General Conditions: Housing loans are distributed to the provinces in accordance with the credit plan is by the Housing Fund and by 80% as a standard population ratios of 20% as the standard for the degree of poverty in the province (summarized in the attached table)," as being " old Iraqi student loan (22) years and above full capacity and that the age of the beneficiary does not exceed 65 years. "
He pointed out that "the interest imposed on the granting of loans ratios are (2%) per annum for the benefit of the central bank" that "the Fund shall set time limits for the completion of the transactions," while "The housing fund the launch of the website hotline phone service for the purpose of monitoring the borrower stages of completion of treatment loans and be a presentation via the website of the Fund without any financial payments are met. "
He added that "the Director General of the Fund and directors of departments concerned and the director of the branch committees detection, bear full responsibility for the granting of the loan and check the conditions are met, each according to his responsibility," while the Fund was "update information of the borrower and the guarantor periodically" also will be "calculating interest on loans the central bank after one-year grace from the date of receipt of each batch of the central bank. "
And The Housing Fund "to submit periodic reports every three months on the work done by Governorate and the amounts to the Supreme Committee supervising the lending in the prime minister's office," according to the statement.
As for the instructions lending "loans will include all Iraqi citizens in accordance with regulations issued by the Supreme Committee for lending in the Office of the Prime Minister", as will grant the loan "for the purpose of construction or add construction to those who owns a piece of residential land on the face of independence or rumored to him, and that no less earth communal space about 100 square meters of construction area of not less than about 65 square meters, does not grant to build on agricultural and industrial plots of land. "
As the loan is granted "for those wishing to buy residential units in residential investment complexes or subject to the investment law and which are no less net area of about 65 square meters," in addition to "re-build housing units destroyed due to terrorist operations and in order of priority starting with the ceilings of demolished housing units fully. "
According to the FAQ, "the beneficiary bring a sponsor guarantor or more permanent civil servants on the permanent staffing or employees of the Interior Ministry, covers half of their pay nominal monthly installment impact owed by the amount of the borrower and to ratify the sponsorship of a notary Fund and the sponsor department undertakes to deduct the monthly installments from the salary sponsor upon request by the Iraqi housing Fund officially. "
It also assumes the borrower, "the wages of administrative services at 1% of the loan amount in favor of the housing fund is taken once when the first batch Exchange, and is distributed as incentives to the staff of the Fund in accordance with the instructions issued by the Board of Directors and approved by the Minister of Construction and Housing."
As for the loan ceilings, the statement pointed out that "the loan amount is no more than (50) million for each case of lending," that "pays the loan in two installments to the beneficiaries in accordance with instructions issued Fund Board."
The statement pointed out that "to meet the wages of detection and guesswork out of the beneficiary of $ (sixty thousand dinars) for each detection, these wages are distributed as incentives to employees in accordance with the instructions issued by the Board of Directors and approved by the Minister of Construction and Housing," The duration of the loans shall be "B (ten years) The maximum loan is restored in equal monthly installments within the prescribed period, "while The housing Fund" application payment mechanisms and grants, according to the instructions window ".anthy 8