Instructions for the ages of individual lending to citizens of the Housing Fund

2016/6/5 15:22

{Baghdad: Euphrates news}

construction and Housing Ministry, municipalities, lending instructions given by Iraqi housing fund a citizens for Ministry profiles construction add build under CBI initiative included Fund lending 850 billion dinars.

The Ministry statement quoted received {Euphrates news} copy of it today on the Iraqi Director of the Housing Fund in the name of Bahauddin "under instructions issued by the loan fund that is selected as no more than 50 million dinars for each loan, which will include all Iraqi citizens aged between 22 and 65 except Kurdistan, also include agricultural and industrial land.

He noted that "the loan grants for construction or building for the owner of a piece of land in residential independence or be known to him no less than 100 square meters and construction area of not less than 65 m 2, two-stage pay 40% on stage albadlo {their} and 60% of terminations, or stage 60% and 40% of the roofing stage complete terminations that gives the loan at once.

The instruction stressed by Bahauddin "beneficiary providing guarantor or more permanent civilian personnel or Moi over officer that covers half the nominal salary monthly installment amount, and the borrower shall bear administrative services fees of 1% of the loan amount taken once the disbursement of the first batch and 2% annual interest for the Central Bank.

"And help set the duration between first and second that the Uncoverings not exceeding six months and reversed fall right to claim the second installment, stating that the borrower incurs an slip wages 60 000 each time, and that the duration of the loan is 10 years.

"The loan includes citizens who step forward to get a written request, it can also include former borrowers who did not receive full payments initiative by submitting a written request for inclusion in the initiative to adopt the same amount the previous tops {35} million to Baghdad and the rest of the provinces {30} million to continue work on terms the Fund for payments received and same duration {15} years and adopt new mechanism and conditions for lending amounts under the initiative".

He noted that "according to instructions issued by the Fund, citizens wishing to get loan provide a modern land deed did not spend more than 6 months and not force building leave spends more than three years, authentic and modern border installation map didn't spend more than three months and a certified building map, as well as a guarantee of civil servant or officer in associate and above personal holdings of the borrower and guarantor.

He noted that he "hoped to launch direct loans to citizens early next month".