Justice reveal manipulation of loans by about 70 billion dinars and adopt a new mechanism to maintain public money

2016/06/05 09:30


The Justice Ministry announced Sunday the launch of work new instructions for the industrial and commercial bank loans, agricultural, referring to a new mechanism to maintain guaranteed by public money and prevent fraud, manipulation of loans by about 70 billion dinars.

The Ministry said in a statement received (range) a copy, said that "the Ministry Announces near launching new instructions to book the property for loans to investors from industrial and commercial and agricultural Bank having been held several meetings and joint lecturer representatives of banks and real estate registration Department and the Office of the Inspector General at the Ministry, stating that" the instructions include the adoption of a new mechanism preserving public money and prevent fraud spirited statements for real estate assessment to be booked for the loan and not Evaluation is overrated and over the value of the property.

The statement added that "the Ministry continues to pursue guess loan amounts currently as well as follow the funeral held outside checks and refer offenders to the competent courts," stressing that "these actions contributed to credit fraud detection nearly 70 billion dinars and stop wasting more than this amount for loans destined for Exchange and stopped."

The Prime Minister, Haidar Abadi, in (March 9, 2016), special housing fund lending mechanisms of Central Bank loans amounting to five trillion Iraqi dinars, with loans distribution mechanism required to adopt criteria for the degree of poverty and population of each province, also stipulated that no more than 50 million loan is paid to the beneficiary in two installments.

Referred to in the Council of Ministers (31 May 2016), announced the launch of the distribution of land to citizens in a way that installment terms "accessible", see electronic program launch mechanism for industrial, agricultural and residential loans.